May 8 (Reuters) - The head of AerCap ( AER ), the

world's largest aircraft leasing company, said it would tread

cautiously in a booming aircraft and asset market and preferred

buying its own stock.

AerCap ( AER ) will not overpay for jets, CEO Aengus Kelly told an

investor forum, adding: "I am the most reluctant aircraft buyer

in the world".

Asked if AerCap ( AER ) would keep growing through acquisitions,

after some $62 billion of deals since 2005, Kelly said, "M&A is

always something we're looking at, of course, but right now we

believe that the cheapest assets we can buy are our own shares."