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AerCap further hikes earnings forecast on 'robust' sales
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AerCap further hikes earnings forecast on 'robust' sales
Aug 1, 2024 7:12 AM

DUBLIN, Aug 1 (Reuters) - AerCap ( AER ) raised its

full-year earnings guidance for the second time this year on

Thursday after further gains on the sale of aircraft and higher

lease revenue in the second quarter.

Aercap ( AER ), the world's largest aircraft lessor, expects

full-year adjusted earnings per share of around $10.25,

including gains on the sale of aircraft, engines and helicopters

in the first half of the year but before any potential further

gains in the second half.

The Dublin-based lessor had forecast a range of $7.50 -

$8.50 in March, excluding any gains on sales for the year, and

raised it to $9.20 in May after reporting a 160 million euro

first quarter net gain on asset sales.

It reported a further 129 million euro net gain in the

period from April to June after it sold 29 aircraft, seven

engines and one helicopter in what it described as a "robust

sales market".

AerCap's ( AER ) portfolio consisted of 3,492 owned, managed or

ordered aircraft, engines and helicopters at the end of June, a

fleet that far dwarfs its nearest rival. It entered into lease

agreements for 162 of those assets in the second quarter.

It said it had subsequently entered into an agreement with

Airbus in July to purchase 36 A320neo aircraft, to be

leased to Spirit Airlines ( SAVE ) upon delivery in 2027 and

2028.

Low cost U.S. carrier Spirit announced in April that it had

deferred all aircraft on order with Airbus that were scheduled

to be delivered in 2025 and 2026 to 2030 to 2031.

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