AerCap Signs Lease Agreements with PT Rusky Aero Indonesia for Two 737-800BCF - Boeing Converted Freighters

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Mar 31, 2023, 09:00 ET

DUBLIN, March 31, 2023 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced it has signed lease agreements for two 737-800BCF (Boeing Converted Freighters) with newly launched cargo airline, PT Rusky Aero Indonesia, operating as Raindo United Services ("Raindo").

Attending the announcement ceremony were the Indonesian Ambassador to Singapore, His Excellency Suryo Pratomo, Founder of Raindo, Benny Rustanto and Co-Founders of Raindo, Muhammad Surya, Bambang Sujatmiko, Captain Yudhi Fadjari, Dodi Abdul Kadir, Hans Nugroho, Febiantori and AerCap's Head of Leasing Asia Pacific, Emmanuel Herinckx.

The first passenger-to-freighter conversion will be completed by Boeing Shanghai Aviation Services Co. Ltd. (BSAS), and the second by Taikoo (Shandong) Aircraft Engineering Co. Ltd. (STAECO).

"We are very pleased to welcome Raindo as a new customer to AerCap and to lease them their very first aircraft," said Richard Greener, the Head of AerCap Cargo. "We wish the team every success as they launch their air cargo operations and look forward to working with them as these aircraft deliver."

Benny Rustanto, Founder of Raindo United Services, said, "On behalf of the entire organization, I would like to express our gratitude to AerCap for their continuous support and commitment to our partnership. We believe this strategic step will allow us to benefit the community, especially the MSME (Micro, Small, Medium Enterprises) industry in Indonesia, through the seamless and sustainable connectivity logistic delivery experience of Raindo United Services."

In January 2023, AerCap Cargo marked the delivery of its 50^th 737-800BCF. The aircraft was redelivered to GOL Linhas Aéreas. AerCap's 737-800BCF customers include West Atlantic Group, Amazon Air, GOL, JD.com, Kargo Xpress, ASL, Tianjin Cargo and Longhao Airlines.

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 PT Rusky Aero Indonesia
PT Rusky Aero Indonesia, operating as Raindo United Services, is a scheduled air cargo transportation company that was established on June 4, 2022. The company obtained a Standard Certificate of Domestic and Foreign Cargo Scheduled Commercial Air Transport on December 13, 2022. Supported by two Boeing 737-800BCF aircraft, Raindo United Services will provide a one-stop solution for cargo services with real-time tracking from first to last mile. The features of real-time tracking can be easily accessed via the Raindo App which is available on the App Store and Google Play Store. Raindo United Services will serve domestic (Jakarta, Medan, Balikpapan, Makassar and Surabaya) and international (Singapore, Hong Kong and Guangzhou) routes from July 2023.

About Raindo United Services
Raindo United Services is a pioneering digital-based cargo airline in Indonesia, offering a one-stop cargo service solution for the air logistics industry. It obtained a Standard Certificate of Domestic and Foreign Cargo Scheduled Commercial Air Transport on December 13, 2022. It is expected to make its inaugural flight in July 2023, and will operate domestic routes including Jakarta, Medan, Balikpapan, Makassar and Surabaya, as well as international routes to Singapore, Hong Kong and Guangzhou.

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 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, including, among other things, the availability of capital to us and to our customers and changes in interest rates; the ability of our lessees and potential lessees to make lease payments to us; our ability to successfully negotiate flight equipment (which includes aircraft, engines and helicopters) purchases, sales and leases, to collect outstanding amounts due and to repossess flight equipment under defaulted leases, and to control costs and expenses; changes in the overall demand for commercial aviation leasing and aviation asset management services; the continued impacts of the Ukraine Conflict, including the resulting sanctions by the United States, the European Union, the United Kingdom and other countries, on our business and results of operations, financial condition and cash flows; the rate of recovery in air travel related to the Covid-19 pandemic, the aviation industry and global economic conditions; the potential impacts of the pandemic and responsive government actions on our business and results of operations, financial condition and cash flows; the effects of terrorist attacks on the aviation industry and on our operations; the economic condition of the global airline and cargo industry and economic and political conditions; development of increased government regulation, including travel restrictions, sanctions, regulation of trade and the imposition of import and export controls, tariffs and other trade barriers; a downgrade in any of our credit ratings; competitive pressures within the industry; regulatory changes affecting commercial flight equipment operators, flight equipment maintenance, engine standards, accounting standards and taxes.

As a result, we cannot assure you that the forward-looking statements included in this press release will prove to be accurate or correct. These and other important factors and risks are discussed in AerCap's annual report on Form 20-F and other filings with the SEC. 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 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.