Aercap Holdings NV Dossier
Qualitative Analysis
Business overview
AerCap Holdings N.V. is the global leader in aviation leasing, commanding a dominant market position with a fleet size nearly double that of its nearest competitor. The company's business model centers on acquiring high-demand commercial aircraft, engines, and helicopters directly from manufacturers, and subsequently leasing them to a highly diversified global customer base of approximately 300 airlines across 80 countries. AerCap also actively manages its portfolio through secondary market asset sales, cargo conversions, and parts distribution. The company's massive scale, particularly enhanced by the strategic acquisitions of ILFC in 2014 and GECAS in 2021, provides unparalleled purchasing power with major OEMs like Airbus and Boeing, as well as access to low-cost investment-grade capital.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Acquiring fuel-efficient, new-technology aircraft to modernize customer fleets. In Q1 2026, AerCap added 110 new Airbus A320neo family aircraft to its order book (including the exercise of 45 options), with deliveries scheduled from 2028 through 2034.
Expected impact: Secures long-term capacity in supply-constrained narrowbody markets and supports the company's target of having 85% of its fleet composed of new-technology assets by 2030.
Expanding the engine leasing portfolio to address global spare engine shortages. In Q1 2026, AerCap signed lease agreements with CFM International for 48 LEAP-1A engines through its Shannon Engine Support joint venture.
Expected impact: Captures higher-margin aftermarket revenue and provides critical spare engine capacity to global airline customers.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Exclusive negotiations entered in June 2025 to form a LEAP engine leasing joint venture. The JV will jointly own and manage a fleet of CFM LEAP-1A and LEAP-1B engines to support MRO customers worldwide.
Terms: Jointly owned and managed asset pool; specific financial terms were not disclosed.
A seven-year agreement signed in October 2025 for AerCap to provide lease pool management services for the GE9X engine, while extending support for GEnx, GE90, CF6, and CF34 engine families.
Terms: Seven-year service agreement; specific financial terms were not disclosed.