Page 1

YAER AERCAP Aviation Solutions Press Release For Investors : Joseph McGinley Head of Investor Relations jmcginley@aercap.com ; +353 1 418 0428 For Media : Gillian Culhane Vice President Corporate Communications gculhane@aercap.com ; +353 1 636 0945 AerCap Holdings N.V. Reports Financial Results for the First Quarter 2021 DUBLIN - April 28 , 2021 - AerCap Holdings N.V. ( NYSE : AER ) , the global leader in aircraft leasing , today reported financial results for the first quarter of 2021 ended March 31 , 2021 . Net income for the first quarter of 2021 was $ 228 million , or $ 1.76 per share . This was primarily impacted by $ 100 million of cash accounting and $ 25 million of GECAS transaction - related expenses , pre - tax . This compares to net income of $ 277 million , or earnings per share of $ 2.14 , for the same period in 2020 . ➤ Excluding GECAS transaction - related expenses , net income for the first quarter of 2021 was $ 250 million , or $ 1.93 per share . Aengus Kelly , Chief Executive Officer of AerCap , said , " The first quarter of 2021 was an exceptional one for AerCap , as we announced plans to acquire GECAS from GE , a transaction that we believe will create significant long - term value for our shareholders . At the same time , we continued to focus on our business and we are pleased to report a significant increase in our leasing activity . During the quarter , AerCap signed 60 lease agreements with airlines in 15 countries , the highest demand we have seen in 18 months . We believe this progress reflects the growing confidence of our airline customers as they plan for the future . While parts of the world remain under governmental restrictions , it is clear that there is significant pent - up consumer demand for air travel . As the vaccine rollout progresses , AerCap's global fleet of in - demand new technology aircraft will enable us to support our customers as the recovery in air travel continues . " Highlights : • Signed lease agreements for 60 aircraft , including 28 widebody aircraft , in the first quarter of 2021 . Completed the offering of $ 1 billion of 5 - year senior unsecured notes with a 1.75 % coupon . Announced entry into a definitive agreement to acquire GE Capital Aviation Services . Closed a $ 19 billion bridge facility and $ 5 billion term loan agreement associated with the GECAS transaction with a consortium of 20 banks . Entered into a new $ 4.35 billion revolving credit facility subject to the closing of the GECAS transaction , increasing our total revolving credit facilities to $ 9 billion post - closing . Attractive Aircraft Fleet : AerCap has placed 100 % of its new aircraft deliveries from its order book through 2022 . New technology aircraft comprise 63 % of AerCap's fleet . The average age of the company's owned fleet was 6.6 years as of March 31 , 2021 and the average remaining contracted lease term was 7.3 years . The fleet utilization rate for the first quarter of 2021 was 96 % , and only 7 % of the company's aircraft by book value are scheduled to come off lease through the end of 2022 . Strong Balance Sheet : • AerCap ended the first quarter with $ 8.6 billion in total sources of liquidity , representing next 12 months ' sources - to - uses coverage ratio of 1.7x . Adjusted debt / equity ratio of 2.5 to 1 , below the company's target of 2.7x to 1 . • Secured debt - to - total assets ratio of 24 % . AerCap Holdings N.V. 65 St. Stephen's Green , Dublin D02 YX20 , Ireland www.aercap.com