breaking news New

Aercap set to become world leader in aircraft industry leasing

Aercap looks set to become a world leader in the aircraft industry as a result of their recent takeover of a rival company that was owned by the US insurance firm AIG. The deal is worth an estimated €4 billion to the Irish and Dutch aircraft leasing specialist whose key operations are based in Shannon.

The company’s chief executive Aengus Kelly is to purchase AIG’s aircraft leasing outfit International Lease Finance Corporation (ILFC) €3.9 billion. Aercap will then pay AIG a reported €3 billion and cover the balance with 97.5 million shares, around 46 per cent of the combined company.

When the deal is finally completed, sometime in the second quarter of next year it will have formed an aircraft leasing group with assets of €41 billion, a fleet of close to 1,400 aircraft and an order book of 385 further aircraft, which its statement valued at around €25 billion.
Aengus Kelly stated that this new deal will make Aercap a leader in the industry. “This transaction presents a unique strategic opportunity to bring together the outstanding and experienced personnel from both companies and two attractive portfolios of modern aircraft on lease to a highly diversified customer base.”


Welcome! Login in to your account

Remember me Lost your password?

Lost Password