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AerCap raises earnings forecast again on 'robust' sales market
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AerCap raises earnings forecast again on 'robust' sales market
Aug 1, 2024 1:25 AM

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

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

recording further gains on the sale of aircraft and higher lease

revenue in the second quarter, the world's largest aircraft

lessor said on Thursday.

AerCap ( AER ) 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 excluding 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 sale 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.

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