AerCap Holdings has reported a second quarter net profit of $448 million or $2.28 per share on a 2.0 percent year-over-year increase in revenue to $1.96 billion.
On Thursday (August 1st, 2024), AerCap Holdings N.V. reported their second quarter financial results for the period ending June 30, 2024. The aircraft lessor reported a Q2 net profit of $448 million or $2.28 per share on a year-over-year increase in revenue of 2.0 percent to $1.96 billion. During Q2, AerCap recorded a net gain on the sale of assets of $129 million, relating to 31 assets sold for $793 million. At June 30, 2024, AerCap had cash, cash equivalents and restricted cash totaling $1.6 billion.
In Thursday’s announcement, AerCap’s Chief executive Officer, Aengus Kelly, said,
“In an industry environment that has remained positive, AerCap continued to produce strong results in the second quarter. We were pleased to receive credit rating upgrades from Moody’s and S&P reflecting the company’s best-in-class performance. We continue to actively deploy capital for growth opportunities and to return capital through share repurchases and dividends to our shareholders. As a result of our outperformance during the first half of the year and our positive outlook going forward, we have raised our earnings guidance for the full year.”
At the close of Q2 2024, AerCap’s portfolio included 3,492 owned, on order or managed aircraft, engines and helicopters. The lessor’s average age of owned aircraft at June 30, 2024 was 7.4 years (4.7 years for new technology aircraft and 14.5 years for current technology aircraft), with an average remaining contracted lease term of 7.4 years.
AerCap Holdings N.V. (NYSE: AER) is the global leader in aircraft leasing and maintains one of the most attractive order books in the industry. The company serves around 300 customers in 80 countries with comprehensive fleet solutions. AerCap is headquartered in Dublin and maintains offices in Shannon, Miami, Memphis, Singapore, Amsterdam, Shanghai, Dubai, Seattle, Toulouse, and other locations around the world.
Source: AerCap
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