Lessor AerCap signed lease agreements covering only 10 aircraft in the second quarter of 2020, down from 48 in the same period last year.

The 10 aircraft comprise one widebody and nine narrowbodies, while in Q2 2019 AerCap signed deals for four widebodies and 44 narrowbodies, says the company.

Aircraft trading was similarly down. AerCap bought just two Airbus A320neos, whereas in the corresponding quarter last year it bought more than five times the number of aircraft with the purchase of six A320neo family aircraft, four Boeing 787-9s and one Embraer E2.

This year, AerCap sold only nine owned aircraft in the second quarter – three A320 family aircraft, five 737NGs and one 757 – compared with 23 aircraft in Q2 2019. Those were nine A320 family aircraft, three A330s, four 737NGs, one 737 Classic, one 777-200ER, one 777-300, two 747s and one 767 from its owned portfolio, as well as one A300 from its managed portfolio.

On the other hand, AerCap raised $3 billion funding in the recently concluded quarter, including $2.5 billion of unsecured bonds. This compares with $1.5 billion in “financing transactions” that were signed in the second quarter of 2019.