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AerCap Holdings Issues Fleet Update

The Associated Press

Dutch aircraft leasing company AerCap Holdings NV on Friday outlined several of its aircraft transactions from the third quarter.

Airlines have been shrinking, reducing demand for planes and cutting the price of the ones that do sell.

"The coming winter will remain challenging for the entire aviation industry," AerCap CEO Klaus Heinemann said. "Still, there are currently no indications that the situation will deteriorate beyond last winter's challenges, which were managed well by AerCap and most of our competitors."

In its report Friday, the company said it:

¿ Signed new lease agreements for six planes: four new Airbus A320s for Denver-based Frontier Airlines, and two new A319s for Adria Airways of Slovenia;

¿ Signed a letter of intent to buy 13 planes from GECAS, the leasing arm of General Electric. Those included two A320s acquired during the quarter.

¿ Bought one A320 and two new A330s under existing commitments with Airbus, as well as one new Boeing 737-800.

¿ Delivered a total of eight planes and 14 engines under lease.

AerCap said it had a total of 304 aircraft either owned, on order, managed, or under contract or letter of intent.

AerCap shares rose 6 cents to $8.94 in midday trading.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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