AerCap unveils new CFM LEAP engine deal at 2024 Capital Markets Day

AerCap Holdings N.V. (AerCap) hosted its 2024 Capital Markets Day in New York on May 8, 2024. AerCap's CEO Aengus Kelly, along with other senior leaders, were discussing the company's strategic priorities and outlook for the near and longer term.

In conjunction with the investor conference, the company unveiled several significant announcements. Foremost among them is a landmark deal with Safran Aircraft Engines (Safran) and Shannon Engine Support (SES) for the acquisition of 150 new CFM LEAP spare engines, valued at approximately US$3 billion at list prices. This deal, a testament to AerCap's strategic prowess, highlights its commitment to innovation and growth in the aviation sector.

Additionally, the Board of Directors authorised a new US$500 million share repurchase programme through December 31, 2024. Furthermore, the Board declared the initiation of the company's first quarterly dividend on its common stock, set at US$0.25 per share. This inaugural dividend will be payable on June 13, 2024, to shareholders of record as of May 22, 2024.

SES, a 50/50 joint-venture company between Safran and AerCap, will oversee the management of the acquired engines. These engines will be crucial in supporting the expanding fleet of in-service Boeing 737MAX and Airbus A320neo-family aircraft, cementing AerCap's position as a leader in the aviation industry.

AerCap serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Miami, Singapore, Amsterdam, Shanghai, Dubai, Seattle, Toulouse and other locations around the world.