Amsterdam, Netherlands, Aug 7, 2012 - (ACN Newswire) -
AerCap Holdings N.V. (the "Company" or "AerCap") (NYSE: AER) today announced
the results of its operations for the second quarter ended June 30, 2012.
Second Quarter 2012 Net Income and Earnings Per Share
* Second quarter 2012 reported net income was $29.6 million, compared with
$30.8 million for the same period in 2011. Second quarter 2012 reported
basic and diluted earnings per share was $0.21, compared with reported basic
and diluted earnings per share of $0.21 for the same period in 2011.
* Second quarter 2012 adjusted net income was $59.2 million, compared with
second quarter 2011 adjusted net income of $72.8 million. Second quarter
2012 adjusted earnings per share was $0.43, compared with $0.49 for the same
period in 2011.
Set forth below are the details to reconcile reported net income to adjusted net
income, including the specific adjustments.
Three months ended Six months ended
June 30, June 30,
---------------------------- -------------------------------
% %
increase/ increase/
2012 2011 (decrease) 2012 2011 (decrease)
------ -------- ------------ --------- --------- -----------
Net income $ 29.6 $ 30.8 (4%) $ 94.6 $ 102.9 (8%)
Plus: mark-to-
market of
interest rate
caps, net of
tax 7.0 18.9 (63%) 9.8 20.3 (52%)
share-based
compensation,
net of tax 1.7 1.7 0% 3.0 3.4 (12%)
------ -------- ------------ --------- --------- -----------
Net income
excluding the
impact of mark-
to-market of
interest rate
caps and share-
based
compensation 38.3 51.4 (25%) 107.4 126.6 (15%)
Plus: buy-out
of the Genesis
portfolio
servicing
rights, net of
tax - 21.4 (100%) - 21.4 (100%)
non-recurring
charges to
interest
expense from
the early
repayment of
secured
loans, net of
tax 20.9 - 100% 20.9 - 100%
------ -------- ------------ --------- --------- -----------
Adjusted net
income 59.2 72.8 (19%) 128.3 148.0 (13%)
------ -------- ------------ --------- --------- -----------
Both reported and adjusted net income in the second quarter of 2012 decreased
from the same period in 2011. The decrease in adjusted net income was mainly the
result of increased default and restructuring related expenses of $6.9 million,
net of tax, and a lower gain on the sale of aircraft of $4.5 million, net of
tax, in the second quarter of 2012 compared with the second quarter of 2011.
Aengus Kelly, CEO of AerCap, commented: "During the second quarter of 2012
AerCap continued to increase shareholder value by generating $59 million of
adjusted net income and executing an unsecured debt offering, which represented
an industry milestone. In addition, we demonstrated our commitment to enhance
shareholder value by repurchasing 5.6 million shares and recently increased our
share repurchase program to $200m. This, along with opportunistic aircraft
acquisitions such as our transaction with Singapore Airlines, our pro active
aircraft sales policy and robust liquidity profile will continue to drive
AerCap's industry leading returns."
Additional Second Quarter 2012 Financial Highlights
* Net interest margin earned on lease assets, or net spread, was $173.1
million in the second quarter of 2012 compared with $177.3 million for the
same period in 2011. Net interest margin as a percentage of average lease
assets was 8.67% for second quarter 2012 as compared to 8.83% for second
quarter 2011. The decrease in net interest margin is driven by the impact
from the delivery of new aircraft and costs related to defaults which
occurred in previous periods.
* Total assets were $9.3 billion at June 30, 2012, a decrease of 3% over total
assets of $9.6 billion at June 30, 2011. The net decrease is attributable to
the sale of AeroTurbine, which was only partially offset by new aircraft
deliveries.
* Debt to equity ratio was 2.7 to 1 at June 30, 2012, compared to 2.8 to 1 at
June 30, 2011.
* Committed purchases of aviation assets delivered or scheduled for delivery
in 2012 are $1,097 million, of which $518 million closed in the first six
months of 2012.
* In the second quarter of 2012, we closed three financing transactions
totaling approximately $340 million, including a $300 million senior
unsecured notes issuance. The total amount of financing transactions
completed in the year to date is $650 million.
* In the second quarter of 2012, we purchased 5.6 million shares (including
5.0 million shares purchased from Cerberus Capital Management, L.P.) at a
cost of $62.7 million. The average purchase price of the 5.6 million shares
was $11.22. The book value per share at June 30, 2012 was $17.20.
AerCap's CFO, Keith Helming, added: "During the first half of 2012, we completed
$650 million of new financing transactions and generated over $300 million of
operating cash flow. With a debt/equity ratio at 2.7 times and $750 million of
total cash on hand at the end of the second quarter, we are well positioned to
respond to investment opportunities that may arise to maximize shareholder
value."
Revenue Breakdown
Three months ended Six months ended
June 30, June 30,
-------------------------------- -------------------------------
% %
increase/ increase/
2012 2011 (decrease) 2012 2011 (decrease)
--------- --------- ------------ --------- --------- -----------
Lease
revenue:
Basic lease
rents $ 234.9 $ 238.4 (1%) $ 470.1 $ 475.5 (1%)
Maintenance
rents and
other
receipts 12.5 26.1 (52%) 30.1 46.3 (35%)
--------- --------- ------------ --------- --------- -----------
Lease revenue 247.4 264.5 (6%) 500.2 521.8 (4%)
Net gain on
sale of
assets 0.7 6.5 (89%) 0.4 5.2 (92%)
Management
fees and
interest
income 4.5 5.7 (21%) 9.7 11.4 (15%)
Other revenue 0.3 0.4 (25%) 0.5 2.8 (82%)
--------- --------- ------------ --------- --------- -----------
Total revenue $ 252.9 $ 277.1 (9%) $ 510.8 $ 541.2 (6%)
--------- --------- ------------ --------- --------- -----------
Basic lease rents were $234.9 million for the second quarter of 2012, a decrease
of 1% compared with the same period in 2011. Our average lease assets decreased
by 1% to $8.0 billion compared with the second quarter of 2011.
Basic rents, maintenance rents and other receipts, or total lease revenue, for
the second quarter of 2012 was $247.4 million, compared to $264.5 million for
the same period in 2011, a decrease of 6%. This is mainly due to a decrease in
maintenance rents and other receipts.
Net gain on sale of aircraft for the second quarter of 2012 was $0.7 million,
compared to $6.5 million for the same period in 2011. During the second quarter
of 2012 we sold one A330 aircraft, one A320 aircraft and one B757 aircraft.
Three months ended Six months ended
June 30, June 30,
-------------------------------------- ---------------------------
% %
increase/ increase/
2012 2011 (decrease) 2012 2011 (decrease)
-------- -------- ----------- -------- -------- ----------
Basic lease
rents. $ 234.9 $ 238.4 (1%) $ 470.1 $ 475.5 (1%)
Interest on
debt 93.7(a) 82.9 13% 157.6(a) 141.6 11%
Plus: mark-
to-market
of interest
rate caps (8.0) (21.8) (63%) (11.3) (23.5) (52%)
non-
recurring
charges
to
interest
expense
from
repayment
of
secured
loans (23.9) - 100% (23.9) - 100%
Interest on
debt
excluding
the impact
of mark-to-
market of
interest
rate caps
and non-
recurring
charges to
interest
expense
from the
early
repayment
of secured
loans 61.8 61.1 1% 122.4 118.1 4%
-------- -------- ----------- -------- -------- -----------
Net
interest
margin, or
net spread $ 173.1 $ 177.3 (2%) $ 347.7 $ 357.4 (3%)
-------- -------- ----------- -------- -------- -----------
(a) Interest on debt for the quarter ended June 30, 2012 includes $6.5 million
of amortization of debt issuance costs. Interest on debt for the three and six
months ended June 30, 2012 includes $23.9 million non-recurring charges to
interest expense from the early repayment of secured loans from the proceeds of
our $300 million senior unsecured notes issuance.
As shown in the table above, interest expense excluding the impact of the mark-
to-market of interest rate caps and non-recurring charges to interest expense
from the early repayment of secured loans was $61.8 million in the second
quarter of 2012, a 1% increase compared with the second quarter of 2011. Net
spread in the second quarter of 2012 decreased 2% compared with the same period
in 2011.
Selling, General and Administrative Expenses Breakdown
Three months ended Six months ended
June 30, June 30,
-------------------------------------- ---------------------------
% %
increase/ increase/
2012 2011 (decrease) 2012 2011 (decrease)
-------- -------- ----------- -------- -------- ----------
Aircraft
management
fees $ 0.5 $ 25.8 (a) (98%) $ 1.0 $ 27.4 (a) (96%)
Mark-to-market
of foreign
currency
hedges,
foreign
currency
balances and
other
derivatives 1.8 (0.4) (550%) (3.1) (7.6) (59%)
Share-based
compensation
expenses 1.9 1.7 12% 3.4 2.9 17%
Other selling,
general and
administrative
expenses 17.5 22.3 (22%) 36.7 43.5 (16%)
-------- -------- ----------- -------- -------- ---------
Total selling,
general and
administrative
expenses $ 21.7 $ 49.4 (56%) $ 38.0 $ 66.2 (43%)
-------- -------- ----------- -------- -------- ---------
(a) Aircraft management fees for the three and six months ended June 30, 2011
includes $24.5 million one-time charge relating to the buy-out of the Genesis
portfolio servicing rights.
Effective Tax Rate
AerCap's blended effective tax rate during the first six months of 2012 was
8.0%. The blended effective tax rate in 2011 was 6.7%.
Financial Position
% increase/
(decrease)
over
June 30, 2012 June 30, 2011 June 30, 2011
----------------- ----------------- --------------
Total cash (incl.
restricted) $ 765.1 $ 535.1 43%
Flight equipment held for
lease 8,027.5 8,158.2 (2%)
Total assets 9,289.1 9,571.0 (3%)
Debt 6,225.0 6,519.2 (5%)
Total liabilities 6,974.3 7,254.8 (4%)
Total equity 2,314.8 2,316.2 (0%)
Debt/equity ratio 2.7 2.8 (4%)
As of June 30, 2012, AerCap's portfolio consisted of 347 aircraft that were
either owned, on order, under contract or letter of intent, or managed. Total
assets were $9.3 billion at June 30, 2012, a decrease of 3% over total assets of
$9.6 billion at June 30, 2011. The net decrease is attributed to the sale of
AeroTurbine, which was only partially offset by new aircraft deliveries.
Notes Regarding Financial Information Presented In This Press Release
The financial information presented in this press release is not audited.
The following is a definition of non-GAAP measures used in this press release
and a reconciliation of such measure to the most closely related GAAP measure:
Adjusted net income and adjusted earnings per share. These measures are
determined by adding non-cash charges related to the mark-to-market losses on
our interest rate caps and share based compensation during the applicable
period, net of related tax benefits, to GAAP net income. The average number of
shares is based on a daily average.
In addition to GAAP net income and earnings per share, we believe these measures
may provide investors with supplemental information regarding our operational
performance and may further assist investors in their understanding of our
operational performance in relation to past and future reporting periods. We use
interest rate caps to allow us to benefit from decreasing interest rates and
protect against the negative impact of rising interest rates on our floating
rate debt. Management determines the appropriate level of caps in any period
with reference to the mix of floating and fixed cash inflows from our lease and
other contracts. We do not apply hedge accounting to our interest rate caps. As
a result, we recognize the change in fair value of the interest rate caps in our
income statement during each period. Following is a reconciliation of net income
excluding the impact of the mark-to-market of interest rate caps and share-based
compensation to net income for the three- and six -month periods ended June
30, 2012 and 2011:
Three months ended Six months ended
June 30, June 30,
-------------------------------- -------------------------------
% %
increase/ increase/
2012 2011 (decrease) 2012 2011 (decrease)
-------- -------- ------------ --------- --------- -----------
Net income $ 29.6 $ 30.8 (4%) $ 94.6 $ 102.9 (8%)
Plus: mark-to-
market of
interest rate
caps, net of
tax 7.0 18.9 (63%) 9.8 20.3 (52%)
share-based
compensation,
net of tax 1.7 1.7 0% 3.0 3.4 (12%)
-------- -------- ------------ --------- --------- -----------
Net income
excluding the
impact of mark-
to-market of
interest rate
caps and share-
based
compensation. 38.3 (a) 51.4 (25%) 107.4 126.6 (15%)
-------- -------- ------------ --------- --------- -----------
(a) Second quarter 2012 adjusted net income of $59.2 million also excludes the
non-recurring charges to interest expense from the early repayment of secured
loans of $20.9 million, net of tax.
(b) Second quarter 2011 adjusted net income of $72.8 million also excludes the
one-time charge relating to the buy-out of the Genesis portfolio servicing
rights of $21.4 million, net of tax.
Net interest margin, or net spread (refer to second table under Revenue
breakdown section of this press release). This measure is the difference between
basic lease rents and interest expense excluding the impact from the mark-to-
market of interest rate caps. We believe this measure may further assist
investors in their understanding of the changes and trends related to the
earnings of our leasing activities. This measure reflects the impact from
changes in the number of aircraft leased, lease rates, utilization rates, as
well as the impact from the use of interest rate caps instead of swaps to hedge
our interest rate risk. The reconciliation of net spread to basic rents for the
three month periods ended June 30, 2012 and 2011 is included above.
Conference Call
In connection with the earnings release, management will host an earnings
conference call today, Tuesday, August 7, 2012 at 9:30 am Eastern Time / 3:30 pm
Central European Time. The call can be accessed live by dialing (U.S./Canada)
1-480-629-9692 or (International) +31-20-794-8504 and referencing code 4542879
at least 5 minutes before start time, or by visiting AerCap's website at
www.aercap.com under "Investor Relations".
The webcast replay will be archived in the "Investor Relations" section of the
company's website for one year.
To participate in either event, please register at:
client.sharedvalue.net/AerCap/Q212
For further information, contact Peter Wortel: +31 20 655 9658
(pwortel@aercap.com)
or Mark Walter (Shared Value): +44 (0)20 7321 5039 (aercap@sharedvalue.net).
About AerCap Holdings N.V.
AerCap is the world's leading independent aircraft leasing company and has one
of the youngest fleets in the industry. AerCap is a New York Stock Exchange-
listed company (AER) headquartered in The Netherlands with offices in Ireland,
the United States, China, Singapore and the United Arab Emirates.
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," "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, 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. As a result, there can be no assurance 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. 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.
For more information regarding AerCap and to be added to our email distribution
list, please visit www.aercap.com.
;
Financial Statements Follow
AerCap Holdings N.V.
Unaudited Consolidated Balance Sheets
(In thousands of U.S. Dollars)
December
June 30, 2012 31, 2011 June 30, 2011
----------------- -------------------- ----------------
Assets
Cash and cash
equivalents $ 474,251 $ 411,081 $ 344,061
Restricted cash 290,835 237,325 191,026
Trade receivables,
net of provisions 11,358 16,063 60,895
Flight equipment held
for operating leases,
net 8,027,488 7,895,874 8,158,226
Flight equipment held
for sale - - 26,536
Net investment in
direct finance leases 23,482 25,094 27,327
Notes receivables,
net of provisions 4,110 5,200 14,531
Prepayments on flight
equipment 71,324 95,619 129,042
Investments 88,694 84,079 78,345
Goodwill - - 6,776
Intangibles 23,825 29,677 48,809
Inventory 7,167 13,953 132,796
Derivative assets 13,102 21,050 58,873
Deferred income taxes 85,531 91,258 85,613
Other assets 167,912 181,359 208,181
----------------- -------------------- ----------------
Total Assets $ 9,289,079 $ 9,107,632 $ 9,571,037
----------------- -------------------- ----------------
Liabilities and
Equity
Accounts payable $ 1,332 $ 4,142 $ 20,827
Accrued expenses and
other liabilities 76,510 74,458 86,700
Accrued maintenance
liability 503,616 452,582 433,841
Lessee deposit
liability 102,210 102,844 107,606
Debt 6,224,987 * 6,111,165 6,519,233
Accrual for onerous
contracts - 3,971 6,739
Deferred revenue 44,780 47,994 48,505
Derivative
liabilities 20,831 27,159 31,364
----------------- -------------------- ----------------
Total liabilities 6,974,266 6,824,315 7,254,815
Ordinary share
capital 0.01 par
value (250,000,000
ordinary shares
authorized,
149,232,426 ordinary
shares issued and
outstanding) 1,570 1,570 1,570
Additional paid-in
capital 1,343,602 1,340,205 1,336,850
Treasury stock
(14,923,242 ordinary
shares) (162,719) (100,000) (1,449)
Accumulated other
comprehensive income
(loss) (10,411) (8,513) (1,292)
Accumulated retained
earnings 1,138,565 1,043,974 974,681
----------------- -------------------- ----------------
Total AerCap Holdings
N.V. shareholders'
equity 2,310,607 2,277,236 2,310,360
Non-controlling
interest 4,206 6,081 5,862
----------------- -------------------- ----------------
Total Equity 2,314,813 2,283,317 2,316,222
----------------- -------------------- ----------------
Total Liabilities and
Equity $ 9,289,079 $ 9,107,632 $ 9,571,037
----------------- -------------------- ----------------
* Includes $64.3 million of subordinated debt received from our joint venture
partners
Supplemental December
information June 30, 2012 31, 2011 June 30, 2011
----------------- -------------------- --------------
Debt/equity ratio 2.7 2.7 2.8
Debt/equity ratio
(adjusted for
subordinated debt) 2.6 2.6 2.7
AerCap Holdings N.V.
Unaudited Consolidated Income Statements
(In thousands of U.S. Dollars, except share and per share data)
Three months ended Six months ended
June 30, June 30,
------------------------------- -------------------------
2012 2011 2012 2011
--------------- --------------- --------------- ----------
Revenues
Lease revenue $ 247,443 $ 264,535 $ 500,181 $ 521,777
Net gain on
sale of assets 653 6,498 434 5,183
Management fee
revenue 4,174 5,089 8,704 10,237
Interest
revenue 324 601 946 1,181
Other revenue 285 355 514 2,811
--------------- --------------- --------------- ------------
Total Revenues 252,879 277,078 510,779 541,189
Expenses
Depreciation 93,087 90,818 182,115 181,243
Asset
impairment - - - 7,749
Interest on
debt 93,654 82,916 157,621 141,617
Operating
lease-in costs 380 2,989 2,902 6,040
Leasing
expenses 17,866 18,684 36,343 29,780
Provision for
doubtful
accounts - 2,350 - 2,311
Selling,
general and
administrative
expenses 21,718 49,413 38,046 66,247
--------------- --------------- --------------- ------------
Total Expenses 226,705 247,170 417,027 434,987
--------------- --------------- --------------- ------------
Income from
continuing
operations
before income
taxes and
income of
investments
accounted for
under the
equity method 26,174 29,908 93,752 106,202
Provision for
income taxes (1,619) (1,781) (7,497) (7,554)
Net income of
investments
accounted for
under the
equity method 3,725 2,517 6,462 5,171
--------------- --------------- --------------- ------------
Net Income
from
continuing
operations 28,280 30,644 92,717 103,819
Income (loss)
from
discontinued
operations,
net of tax
(AeroTurbine). - 64 - (582)
--------------- --------------- --------------- ------------
Net income 28,280 30,708 92,717 103,237
Net loss
(income)
attributable
to non-
controlling
interest 1,301 134 1,874 (306)
--------------- --------------- --------------- ------------
Net Income
attributable
to AerCap
Holdings N.V. $ 29,581 $ 30,842 $ 94,591 $ 102,931
--------------- --------------- --------------- ------------
Total earnings
per share,
basic and
diluted $ 0.21 $ 0.21 $ 0.68 $ 0.69
Weighted
average shares
outstanding,
basic and
diluted 138,717,200 149,211,244 139,308,322 149,221,776
Certain reclassifications have been made to prior years Unaudited Consolidated
Income Statements to reflect the current year presentation.
AerCap Holdings N.V.
Unaudited Consolidated Statements of Cash Flows
(In thousands of U.S. Dollars)
Three Three
months months Six months Six months
ended ended ended ended
June 30, June 30, June 30, June 30,
------------------------------- -------------------------
2012 2011 2012 2011
--------------- --------------- -------------- ----------
Net income $ 28,280 $ 30,708 $ 92,717 $ 103,237
Adjustments to
reconcile net
income to net
cash provided by
operating
activities:
Depreciation 93,087 98,855 182,115 197,177
Asset impairment - 4,984 - 12,733
Amortization of
debt issuance
costs 30,426 10,097 37,541 17,548
Amortization of
intangibles 2,875 4,555 5,852 9,828
Provision for
doubtful
accounts - 2,391 - 4,034
Capitalised
interest on pre-
delivery
payments (284) (13) (620) (52)
Net gain on sale
of assets (653) (9,316) (434) (8,838)
Mark-to-market
of non-hedged
derivatives 7,217 13,311 3,433 (5,065)
Deferred taxes 1,404 2,246 5,999 10,105
Share-based
compensation 1,932 2,029 3,397 4,302
Changes in
assets and
liabilities:
Trade
receivables
and notes
receivable,
net (692) (1,294) 5,795 (15,659)
Inventories 1,697 247 6,786 (121)
Other assets
and derivative
assets (84) (4,477) (5,798) (33,420)
Other
liabilities (5,432) (9,479) (9,489) (50,749)
Deferred
revenue (1,865) (2,815) (3,214) (10,612)
--------------- --------------- -------------- -----------
Net cash
provided by
operating
activities 157,908 142,029 324,080 234,448
Purchase of
flight equipment (216,028) (138,497) (484,675) (498,386)
Proceeds from
sale/disposal of
assets 112,688 33,408 220,655 59,351
Prepayments on
flight equipment (9,636) (7,313) (17,842) (15,991)
Purchase of
investments - - -
(2,500)
Movement in
restricted cash 12,817 18,228 (53,510) 30,558
--------------- --------------- -------------- ----------
Net cash used in
investing
activities (100,159) (94,174) (335,372) (426,968)
Issuance of debt 469,079 728,339 823,669 1,134,243
Repayment of
debt (420,951) (743,344) (710,057) (987,153)
Debt issuance
costs paid (18,362) (9,793) (24,288) (24,612)
Maintenance
payments
received 32,567 18,795 72,275 52,702
Maintenance
payments
returned (4,931) (13,198) (23,340) (33,736)
Security
deposits
received 7,733 10,774 11,838 12,684
Security
deposits
returned (9,397) (19,233) (11,322) (25,950)
Repurchase of
shares (62,719) (1,449) (62,719) (1,449)
--------------- --------------- -------------- -----------
Net cash
provided by
(used in)
financing
activities (6,981) (29,109) 76,056 126,729
Net increase
(decrease) in
cash and cash
equivalents 50,768 18,746 64,764 (65,791)
Effect of
exchange rate
changes (1,211) 2,864 (1,594) 5,402
Cash and cash
equivalents at
beginning of
period 424,694 322,451 411,081 404,450
--------------- --------------- -------------- ----------
Cash and cash
equivalents at
end of period $ 474,251 $ 344,061 $ 474,251 $ 344,061
--------------- --------------- -------------- ----------
For Investors:
Keith Helming
Chief Financial Officer
+31 20 655 9670
khelming@aercap.com
;
Peter Wortel
Investor Relations
+31 20 655 9658
pwortel@aercap.com
;
For Media:
Frauke Oberdieck
Corporate Communications
+31 20 655 9616
foberdieck@aercap.com
;
AerCap Q2 2012 Earnings:
http://hugin.info/149317/R/1632174/523524.pdf
;
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Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: AerCap Holdings N.V. via Thomson Reuters ONE
Topic: Earnings
Source: AerCap Holdings
https://www.acnnewswire.com
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