AerCap targets more aircraft sales

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Operating lessor AerCap plans on selling more aircraft after unloading one widebody and two narowbody units during the second quarter.

Speaking on a second quarter earnings call today, AerCap chief executive officer Aengus Kelly said the lessor "continues to optimise its portfolio through the sale of aircraft."

AerCap sold one Airbus A330, one Airbus A320 and a Boeing 757 aircraft during the quarter to 30 June.

"Going forward, we expect to continue to pursue our strategy of opportunistically selling aircraft or equity interests in aircraft," says Kelly.

During the first half of 2012, AerCap sold two A330 aircraft (including one through the sale of an equity interest), one A320 aircraft, and two 757 aircraft.

Separately. AerCap purchased 5.6 million shares at cost of $62.7 million during the second quarter and expanded its share repurchase program to $200 million. The average purchase price of the 5.6 million shares was $11.22.