December 19, 2017
AerCap Sells $0.8 Billion Aircraft Portfolio
World’s Most Active Mid-Life Aircraft Trader
DUBLIN – AerCap Holdings N.V. (“AerCap”) (NYSE: AER) announced today that it has signed an agreement to sell a 21-aircraft portfolio to Peregrine Aviation Company Limited (“Peregrine”), an investment entity established by NCB Capital. NCB Capital has $37bn of assets under management and is the brokerage arm of the National Commercial Bank, the largest bank in Saudi Arabia.
The 21-aircraft portfolio consists of a mix of wide-body and narrow-body aircraft. As part of the sale, AerCap will provide lease management services to Peregrine and will retain an equity interest in the entity.
"This transaction with NCB Capital is a clear demonstration of the attractiveness of our aviation assets globally," said Aengus Kelly, Chief Executive Officer of AerCap. "With this sale, AerCap will have sold or contracted to sell approximately $2.4bn of mid-life assets in 2017. The transaction is further evidence of the reach of the AerCap platform and our disciplined approach to portfolio management. We thank NCB Capital for their confidence in AerCap and we look forward to working with the Peregrine team in the future."
Sarah Al Suhaimi, Chief Executive Officer of NCB Capital, said “Aircraft leasing is a fast growing industry that offers a unique and attractive diversification opportunity. We are delighted to have partnered with AerCap, the global leader in aircraft leasing, in this transaction that is the first of its kind in our market.”
AerCap is the global leader in aircraft leasing with, as of September 30, 2017, 1,506 owned, managed or on order aircraft in its portfolio. AerCap has one of the most attractive order books in the industry. AerCap serves approximately 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, Singapore, Shanghai, Abu Dhabi, Seattle and Toulouse.
About NCB Capital
NCB Capital was founded in 2007 as the investment banking and asset management arm of the National Commercial Bank (over 90% ownership), providing clients with premier solutions of integrated investment services. Today, NCB Capital is the largest asset manager in the Kingdom of Saudi Arabia with more than $37bn of assets under management, and is the largest Shariah-compliant asset manager globally.
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Joseph McGinley, +353 1 418 0428
Head of Investor Relations
Gillian Culhane, +353 1 636 0945
Vice President Corporate Communications