AerCap Signs Lease Agreements for Two Boeing 737 Aircraft with Aloula Aviation

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Dec 12, 2024, 07:00 ET

DUBLIN, Dec. 12, 2024 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced it has signed lease agreements for two Boeing 737-800 aircraft. The aircraft will be operated by Mukamalah Aviation Company (a wholly owned subsidiary of Aramco), operating under the brand name "Aloula Aviation," for the transportation of Aramco Group passengers in Saudi Arabia.

The Aramco Group has been a long-time customer of AerCap through its helicopter business, Milestone Aviation, which is a leading provider of leased and financed helicopters.

Aengus Kelly, the CEO of AerCap, said, "We are pleased to expand our relationship with Aramco and Aloula from the leasing and financing of helicopters to passenger aircraft, highlighting the strong synergies across AerCap's business lines. We are proud to support Aloula with their first directly leased aircraft for passenger operations in the Kingdom of Saudi Arabia and wish them every success in their new venture."

Captain Khalid Alnatour, the CEO of Aloula Aviation, said: "Our continued partnership with AerCap marks an important step in Aloula Aviation's mission to provide top-tier aviation services in Saudi Arabia. With the addition of these Boeing 737-800 aircraft, we are better positioned to serve other key clients, advancing our shared commitment to the Kingdom's aviation development."

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.

About Aloula Aviation Company Limited

The first aviation company in Saudi Arabia and second in the Middle East, Aloula Aviation Company Limited (Aloula) was established in 1934 under the name of Saudi Aramco Aviation, with the core mission of oil exploration through the vast Saudi deserts. From its headquarters in Dammam, Saudi Arabia, Aloula operates more than 60 aircraft from different fleets all serving different purposes but with the common goal of helping the business succeed. In addition to its massive fleet, Aloula regularly serves 18 airports throughout Saudi Arabia, nine of which Aloula fully manages, serves, and operates, and more than 300 helipads, both on and offshore.

Forward-Looking Statements

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SOURCE AerCap Holdings N.V.