December 30, 2019
AerCap Signs Lease Agreement with AirSial for 3 Airbus A320 Aircraft
DUBLIN - AerCap Holdings N.V. (“AerCap”) (NYSE:AER) today announced it has signed an agreement with AirSial Limited, a privately-owned Pakistani startup airline, for the lease of three used Airbus A320 aircraft. The aircraft are scheduled to deliver in the second quarter of 2020 and will be the first aircraft to be delivered to the airline.
Aengus Kelly, CEO of AerCap, said, “For more than a decade, AerCap has been the biggest aircraft lessor in the fast growing Pakistani aviation sector and we are very pleased to support a new startup airline, AirSial. With the rapid growth in air traffic in Pakistan as well as air liberalization, AirSial is well positioned to take advantage of this opportunity. We wish AirSial every success with their new venture and we look forward to working with the AirSial team as these aircraft deliver.”
Mr Fazal Jilani, Chairman of AirSial Limited, said, “I would like to congratulate and thank AerCap on this auspicious occasion for not only recognizing the potential of the Pakistan aviation market but also showing their firm belief in the Sialkot business community. We at AirSial, along with AerCap, will take our new partnership to the highest of standards and together make AirSial ‘The Pride of Pakistan’.”
AerCap is the global leader in aircraft leasing with 1,360 aircraft owned, managed or on order and $43.5 billion of total assets as of September 30, 2019. 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 Shannon, Los Angeles, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle and Toulouse.
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