AerCap completes 31 transactions in Q1

This story is sourced from

Operating lessor AerCap closed 31 aircraft transactions in the first quarter of 2013, an increase of seven deals compared with the year-earlier period.

The Amsterdam-based lessor purchased seven new Boeing 737-800s (including five new 737-800s under sale and leaseback arrangements with American Airlines), one new Airbus A330-300 and one new Airbus A320 during the period. It also sold three aircraft from its owned portfolio.

AerCap closed sales transactions for one new A330-300 and one Boeing MD-11F aircraft. It also sold a new Boeing 737-800 (MSN 39612) to its affiliate AerDragon Aviation Partners. According to Flightglobal's Ascend Online database, the aircraft is on lease to GOL Linhas Aereas. The A330-300 (MSN 1382) was sold to CDB Leasing with a six-year lease attached, according to Ascend.

The lessor also signed letters of intent for the sale of two Boeing 737s from its managed portfolio.

The lessor signed new lease agreements for 10 aircraft during the quarter: five new 737-800s with American Airlines, two 737-700s with Southwest Airlines, one A320 with Frontier Airlines, A320 with Smartlynx Airlines and one A319 with Ecuador's TAME.

The average term of lease and letters of intent for new aircraft signed during the past 12 months was 150 months. The average term of lease agreements and letters of intent for used aircraft in that period was 68 months.

In the first quarter of 2012, AerCap purchased four new 737-800s and one new A330. It sold one A330 and one 757-200 from its owned portfolio.

AerCap ended the first quarter with a portfolio of 323 aircraft under various financing agreements. The average age of the owned fleet as was 5.1 years and the average remaining contracted lease term was 6.9 years at quarter-end.