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June 29, 2016

AerCap Delivers First of Two New Airbus A350 XWB Aircraft to Ethiopian Airlines

First Airbus A350 XWB Delivery to an African Carrier

DUBLIN – AerCap Holdings N.V. (“AerCap”) (NYSE: AER) today announced the delivery of a new Airbus A350-900 to Ethiopian Airlines, the first of two new A350-900 aircraft deliveries on long-term lease to Ethiopian Airlines from AerCap’s order book with Airbus. The aircraft was transferred to Ethiopian Airlines at a ceremony in the Airbus Delivery Centre in Toulouse, and is the first A350 XWB aircraft to be delivered to an African carrier. A second new A350-900 aircraft is scheduled for delivery to Ethiopian Airlines in August 2016.

AerCap has one of the largest Airbus A350 XWB portfolios with a total of four owned and another 25 on order aircraft - one of the most in-demand aircraft in the world. 

AerCap President and Chief Commercial Officer Philip Scruggs said, “Ethiopian Airlines is a longstanding customer and we are delighted to support its fleet renewal program by delivering their first A350-900 aircraft. The Airbus A350-900 will offer Ethiopian Airlines greater capacity and increased range for its growing network, as well as greater operational efficiency. We look forward to continuing our successful relationship with our friends and partners at Ethiopian Airlines as the airline optimizes its fleet.”

Group CEO Ethiopian Airlines, Mr. Tewolde GebreMariam, remarked, “Ethiopian has been a pioneer leader in owning and operating cutting edge aviation technologies in the African continent and the delivery of the A350 XWB is a continuation of that tradition. Moreover, fleet expansion being one of the four pillars of our 15 years strategic roadmap dubbed Vision 2025, we are continually modernizing our fleet capability to support our ever expanding network and for the extra comfort and satisfaction of our customers. We would like to thank AerCap for their trust and confidence to partner with us and for supporting us to introduce the extra excitement of the A350 to our beloved continent and look forward to a continued mutual success.”

"Ethiopian Airlines has a proud reputation for excellence in operation and customer service. We at Airbus are equally proud that our A350 XWB is the platform that will re-enforce this," said Tom Williams, Airbus Chief Operating Officer. "We are celebrating the delivery of Africa's first A350 XWB and we congratulate Ethiopian Airlines and AerCap on this achievement.”

About Ethiopian
Ethiopian Airlines (Ethiopian) is the fastest growing Airline in Africa. In its seven decades of operations, Ethiopian has become one of the continent’s leading carriers, unrivalled in efficiency and operational success. Ethiopian commands the lion’s share of the pan-African passenger and cargo network operating the youngest and most modern fleet to 92 international destinations across five continents. Ethiopian fleet includes ultra-modern and environmentally friendly aircraft such as the Boeing 787, Boeing 777-300ER, Boeing 777-200LR, Boeing 777-200 Freighter, Bombardier Q-400 double cabin with an average fleet age of five years. In fact, Ethiopian is the first airline in Africa to own and operate these aircraft. Ethiopian is currently implementing a 15-year strategic plan called Vision 2025 that will see it become the leading aviation group in Africa with seven business centers: Ethiopian Domestic and Regional Airline; Ethiopian International Passenger Airline; Ethiopian Cargo; Ethiopian MRO; Ethiopian Aviation Academy; Ethiopian In-flight Catering Services; and Ethiopian Ground Service. Ethiopian is a multi-award winning airline registering an average growth of 25% in the past seven years.

About AerCap
AerCap is the global leader in aircraft leasing with, as of March, 31, 2016, approximately 1,670 owned, managed or on order aircraft in its portfolio. AerCap has one of the most attractive order books in the industry. AerCap serves over 200 customers in approximately 80 countries with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and has its headquarters in Dublin with offices in Amsterdam, Los Angeles, Shannon, Fort Lauderdale, Miami, Singapore, Shanghai, Abu Dhabi, Seattle and Toulouse.

Forward-Looking Statements
This press release contains certain statements, estimates and forecasts with respect to future performance and events. These statements, estimates and forecasts are "forward-looking statements". In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "may," "might," "should," "expect," "plan," "intend," "estimate," "anticipate," "believe," "predict," "potential" or "continue" or the negatives thereof or variations thereon or similar terminology. All statements other than statements of historical fact included in this press release are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements. As a result, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this press release might not occur. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. We do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.

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Photo: Copyright Airbus S.A.S. 2016 - photo by A. Doumenjou