AerCap Announces Lease Agreements with Thai Airways for Four Airbus A350-900 Aircraft, Three Boeing 787-9 Aircraft and Ten Airbus A321NEO Aircraft

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Feb 21, 2024, 04:30 ET

SINGAPORE, Feb. 21, 2024 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced it has signed lease agreements with Thai Airways International Public Company Limited ("Thai Airways") for seven widebody aircraft comprising four Airbus A350-900 aircraft and three Boeing 787-9 aircraft, and ten Airbus A321NEO aircraft. The decision to procure these aircraft was made in 2023 as part of Thai Airways' short-term fleet development strategy.

Of the four A350 aircraft, two have already been delivered with the remaining 2 units scheduled for delivery in the first and second quarter of 2024, respectively. The 787 deliveries are scheduled to begin in the second quarter of 2024 through the fourth quarter of 2025, while deliveries of the A321NEOs are scheduled to begin in the third quarter of 2025 through the second quarter 2026.

"AerCap is very pleased to announce this significant transaction with Thai Airways and to support them with both their widebody and narrowbody fleet modernization plan as they emerge from a very challenging period," said Peter Anderson, the Chief Commercial Officer of AerCap. "AerCap's business relationship with Thai Airways began in the mid-1990s with the lease of Boeing 737-400s and Airbus A330-300s, and we have worked closely together during both the upcycles and downcycles to maintain and strengthen the partnership between our two companies. We thank Thai Airways for their business and look forward to working with them as these aircraft deliver, and beyond."

"This marks a significant milestone as we celebrate the continuing partnership with AerCap. It's a testament to the trust and commitment we share, as we emerge from the recent challenging period. The addition of these new generation aircraft enhances our ability to swiftly adapt to the evolving market demands, and not only enhances our operational capacity but also offers exceptional levels of comfort for our passengers." said Chai Eamsiri, the Chief Executive Officer of Thai Airways.

About AerCap

AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Miami, Singapore, Memphis, Amsterdam, Shanghai, Dubai, Seattle, Toulouse and other locations around the world.

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," "will," "aim," "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, and 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, including the impacts of, and associated responses to: the Ukraine Conflict, the Covid-19 pandemic, 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, we cannot assure you 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. Except as required by applicable law, 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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SOURCE AerCap Holdings N.V.