AerCap Welcomes New Mississippi Sales Taxation Legislation

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Jul 18, 2024, 07:00 ET

DUBLIN, July 18, 2024 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) has welcomed the enactment of new Mississippi taxation legislation, House Bill 1855, that introduces an exemption from sales tax for the lease or other retail transfers of fixed-wing aircraft and engines, accessories and spare parts for such fixed wing aircraft.

(L-R): Rep. Jason White, Speaker of the House of Representatives, Jim Neill, President, Carroll County Board of Supervisors, Cyndi Long, Site Operations Manager, AerCap Materials, Sen. Lydia Chassaniol, District 14, Governor Tate Reeves, Rep. Karl Oliver, District 46, Aimee Craig, CEO of AerCap Materials, Allen Burgess, CFO of AerCap Materials, Thomas Gregory, Executive Director, Greenwood-Leflore-Carroll Economic Development Foundation, Wilton Neal, Carroll County Tax Assessor (Retired).

The new legislation was enacted on April 25, 2024, and the bill was ceremonially signed into law by the Governor of Mississippi, Tate Reeves, in a special ceremony held at the Walter Sillers State Office Building in Jackson, Mississippi on July 8, 2024.

"The introduction of this legislation is a game-changer for commercial aircraft leasing and sales in Mississippi and aligns sales tax law with the majority of other states that already offer similar exemptions," said Aimee Craig, the CEO of AerCap Materials. "The new legislation will allow AerCap to better service our customers by improving efficiency of dismantling and offering more competitive pricing. Moreover, it supports our ESG strategy by recycling parts from older technology aircraft and extending their useful life."

"This follows two years of significant collaboration between AerCap and the Greenwood-Leflore-Carroll Economic Development Foundation who were instrumental in helping us drive this change. We would like to thank Governor Reeves, House Representatives and Senators, and the Mississippi Department of Revenue who supported the bill," Ms Craig concluded.

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 AerCap Materials

AerCap Materials is the leading distributor of airframe and engines material for commercial aircraft and engine manufacturers. We provide spares distribution, financing and leasing solutions, supply chain management solutions, and dismantling expertise to more than 850 customers globally. AerCap Materials' facility is Aircraft Fleer Recycling Association (AFRA) accredited and ISO certified. With more than five decades of aftermarket experience and one of the largest inventories, AerCap Materials has the experience, expertise and solutions tailored to meet customer supply chain requirements, around the clock and around the world.

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SOURCE AerCap Holdings N.V.