AerCap Holdings N.V. April 11, 2015

Transcription

1 AerCap Holdings N.V. April 11, 2015

2 Disclaimer Incl. Forward Looking Statements & Safe Harbor This presentation contains certain statements, estimates and forecasts with respect to future performance and events. These statements, estimates and forecasts are forward-looking statements. In some cases, forwardlooking statements can be identified by the use of forward-looking terminology such as may, might, should, expect, plan, intend, estimate, anticipate, believe, predict, potential or continue or the negatives thereof or variations thereon or similar terminology. All statements other than statements of historical fact included in this presentation are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements. As a result, there can be no assurance that the forward-looking statements included in this presentation will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this presentation might not occur. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. We do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise. The information in this document is the property of AerCap Holdings N.V. and its subsidiaries and may not be copied or communicated to a fourth party, or used for any purpose other than that for which it is supplied without the express written consent of AerCap Holdings N.V. and its subsidiaries. No warranty or representation is given concerning such information, which must not be taken as establishing any contractual or other commitment binding upon AerCap Holdings N.V. or any of its subsidiaries or associated companies

3 Industry Overview 3 3 4

4 Industry Overview Aircraft leasing has a strong track record and has been on a robust growth path Healthy and balanced global demand for existing and new aircraft, with air traffic expected to double over the next 15 years 1 Lessors expected to continue to be responsible for funding the largest share of aircraft deliveries 2 Half of world airline fleet expected to be leased by 2020, compared with 40% in ,000 new commercial aircraft to be delivered at a value greater than $4.5 trillion over the next 20 years 3 Very few global industry players due to high barriers to entry Dominated primarily by Boeing and Airbus, each sharing roughly 50% of the market 3 Sources: (1) FAA Forecast (2) Boeing Current Aircraft Finance Market Outlook 2015 (3) IATA 3 4 4

5 Increasing Demand for Operating Leases Since 1994, the global commercial aircraft fleet has nearly doubled, while the operating lease fleet size multiplied by four INCREASING GLOBAL SHARE OF OPERATING LEASE 1 BENEFITS FOR AIRLINES Fleet Owned Operating Lease Operating Lease (%) 10,953 12,793 15,651 80% 70% 60% Operating lease works for all business models Operating flexibility to match capacity with demand ,125 9,716 42% 50% 40% 30% Faster implementation of new technologies Greater efficiency in capital management % 5,327 6,521 3,865 1,525 2, % 10% 0% Viable financing alternative relative to ownership Source: (1) Ascend Fleets Database, Airbus, Boeing, Lockheed, McDonnell-Douglas in service passenger jets excludes regional jets 3 5 4

6 Competitive Industry Landscape AerCap s scale and order book provide a key competitive advantage LEASING MARKET SHARE by fleet size 1 $30+ BILLION 1 31% 40% 1, ,609 1 SMBC Aviation Capital Air Lease Corporation $5-12 BILLION 1 34% UNDER $5 BILLION 1 26% This is only a selected group of lessors Source: (1) Based on fleet data of owned and managed aircraft for top 40 lessors from Flightglobal s Ascend Fleets database for December 2014, excludes Boeing Capital 3 6 4

7 African Aviation Market 3 7 4

8 Africa is on the Move Africa's population and economic growth to support air traffic increase in coming years 3 Home to 6 of the 10 fastest growing economies in GDP expected to grow 5%-7% annually for next 20 years 1 Labor force anticipated to surpass China and India by Driven by rising incomes, consumption, employment, and productivity 2 Foreign Direct Investment pouring in; shifting from extractive to value add industries 1 Source: (1) Aviation Africa 2015 (2) Boeing Current Market Outlook (3) Scientific American 3 8 4

9 Africa s Size Necessitates Air Travel Air travel will be a catalyst for Africa s continued economic development OPPORTUNITIES Air travel projected to grow approximately 6% per year for the next 20 years 1 Boeing & Airbus forecast demand at 1,100 new aircraft for the next 20 years 2 Infrastructure expansion to support growth 2 CHALLENGES Many African countries restrict markets to protect state-owned carriers 2 Safety concerns due to shortfall in implementation of industry norms 2 High aircraft landing charges by international standards 2 Sources: (1) Boeing Current Market Outlook (2) Aviation Africa

10 AerCap s Presence in Africa Nouvelair In Africa Royal Air Maroc Nesma Airlines Nile Air 32 Cabo Verde Airlines 19 First Nation Med-View Airlines AlMasria Kenya Airways Ethiopian AIRCRAFT ON LEASE 1 LESSEES ACROSS THE CONTINENT 2 Trans Air Congo RwandAir Air Seychelles 10 Mozambique Airlines Air Mauritius AIRCRAFT TO BE DELIVERED 1 incl. Airbus A350s and Boeing 787s Comair Air Madagascar Air Austral (1) As of December 31, Aircraft on lease includes two sub-leased aircraft (2) As of December 31, Includes current and follow-on lease customers South African Airways

11 AerCap Update

12 Key Highlights as of December 31, 2014 AerCap is the largest aircraft leasing company in the world with $44 billion of assets 1 STABLE & SIGNIFICANT CASH FLOW ~$3.6 billion of revenue generated in 2014 from a diverse portfolio of in-demand aircraft HEALTHY AIRCRAFT LEASING INDUSTRY The industry with a strong track record and favorable outlook DIVERSE CUSTOMER BASE Over 200 lessees in ~90 countries SCALE With approximately 1,300 2 aircraft in its fleet, AerCap is a critical link for suppliers and airlines MOST ATTRACTIVE ORDER BOOK AerCap has 380 in-demand aircraft on order 1, over 90% delivering through 2017 and over 60% delivering through 2019 are placed 1 ACTIVE PORTFOLIO MANAGEMENT AerCap has sold or parted out 355 owned and managed aircraft since (1) As of December 31, Placement either under lease contract or letter of intent (2) Owned and managed fleet, including AerDragon (3) As of December 31, 2014, excludes ILFC activity prior to acquisition

13 The New AerCap The ILFC acquisition has transformed AerCap into a global leader in aircraft leasing OPERATIONAL UPDATE STRATEGIC EXECUTION ~$5 billion in annual revenue 1 ~$7 billion of available liquidity as of December 31, 2014 ~$8 billion adjusted shareholder s equity 2 ~$13 billion of financing raised since the December 2013 ILFC transaction Industry s most attractive order book 380 new aircraft with deliveries through aircraft worth ~$2 billion purchased in 2014 Contracted placements for over 90% of deliveries until 2017 and over 60% until aircraft transactions in offices across the world Sources: (1) Per annum expected (2) Total shareholders equity (including non-controlling interest), plus a 50% equity credit with respect to $1 billion of ILFC subordinated notes (3) Contracted placements include aircraft either under lease contract or a letter of intent

14 Aircraft Transactions Full Year aircraft transactions executed and 81 aircraft delivered to lessees during LEASE AGREEMENTS EXECUTED AIRCRAFT PURCHASED AIRCRAFT DISPOSED (sale or part-out) 64 from our owned portfolio and 19 from our managed portfolio

15 Diverse Aircraft Portfolio and Customer Base Leasing market continues to grow and demand for our product remains robust 1,659 AIRCRAFT IN PORTFOLIO 1 LARGEST AERCAP CUSTOMERS 2 E2-Jets Other A319 B787 B767 B777 A320 Air France American B737 (NG) A321 A320/A321neo Virgin Atlantic China Southern A350 A330 Over 85% 2 of the company s portfolio consists of A320 family, A330, B737 (NG) and B777 aircraft, which are the most in-demand aircraft in the world Aeromexico LATAM Sources: (1) As of December 31, 2014, owned, managed or on order aircraft. Excludes AeroTurbine which had three aircraft (2) As a % of FY2014 revenues

16 Lessee Diversification 200+ customers globally Diversified customer base NORTH AMERICA / CARIBBEAN 13% of FY2014 lease revenues EUROPE 33% of FY2014 lease revenues ASIA / PACIFIC & RUSSIA 35% of FY2014 lease revenues LATIN AMERICA 9% of FY2014 lease revenues AFRICA / MIDDLE EAST 10% of FY2014 lease revenues AerCap Office Locations

17 Q&A

18 Head Office, AerCap House Stationsplein CE Schiphol, The Netherlands