Operating lessor AerCap continues to see a firming of monthly lease rates, including rentals on the hard-hit Airbus A320 aircraft.
"The best evidence of this is the fact that we sold some A320s during the year in the sale of the ALS portfolio, where over 30 A320 family [aircraft] were sold at effectively book value," said Aengus Kelly, chief executive officer of AerCap during a fourth quarter earnings call.
During the year, Kelly says AerCap sold a total of 59 "mainly older vintage" aircraft with an average age of 10 years at book value.
In the longhaul market, the Airbus A330 aircraft "continues to perform very well" and lease rates are "still showing an upward trend".
Even with the grounding of the Boeing 787 fleet, lease rates are "still very stable", he says.
"All of these aircraft types have large user bases and that is what underpins their values and ensures that these aircraft will always be leased no matter what cycle we are in," Kelly adds.