Ten Year Component Lease Agreement Signed Between British Airways and
AeroTurbine
AMSTERDAM and MIAMI, April 1 /PRNewswire-AsiaNet/ --
AerCap Holdings N.V. ("AerCap," NYSE: AER) announced today that its subsidiary AeroTurbine,
Inc. entered into a component purchase and sale agreement and a component lease agreement
with British Airways, whereby AeroTurbine will purchase British Airways' entire stock of wheels and
brakes for the Boeing 737, 757, 767, 777, and 747-400 and will lease the same back to British
Airways for a period of between six years and ten years, in line with British Airways' fleet renewal
plans.
AeroTurbine has agreed to allow British Airways to position the wheel and
brake stock at various locations around the world to support British Airways'
day to day flight operations and manage the ongoing maintenance of the
equipment in line with British Airways' normal high maintenance standards. AeroTurbine's
President, Michael King commented: "The signing of this agreement represents a major milestone
for our company. Closing a contract with a strategic partner like British Airways further
demonstrates our
position as a primary supplier in the aftermarket parts arena. We are
obviously delighted to be selected as a key vendor to British Airways and look
forward to further enhancing this relationship in the coming years."
About AerCap and AeroTurbine
AerCap is an integrated global aviation company with a leading market position in aircraft and
engine leasing, trading and parts sales. AeroTurbine
is a subsidiary of AerCap focusing on engine leasing and trading, airframe and
engine disassembly, part sales and MRO services.
This press release may contain forward-looking statements that involve risks and uncertainties.
In most cases, you can identify forward-looking statements by terminology such as "may", "should",
"expects", "plans",
"anticipates", "believes", "estimates", "predicts", "potential" or "continue"
or the negative of such terms or similar terminology. Such forward-looking statements are not
guarantees of future performance and involve significant
assumptions, risks and uncertainties, and actual results may differ materially
from those in the forward-looking statements.
For Media: For Investors:
Frauke Oberdieck, AerCap Peter Wortel, AerCap
Tel. +31 20 655 9616 Tel. +31 20 655 9658
foberdieck@aercap.com pwortel@aercap.com
SOURCE AerCap Holdings N.V.
CONTACT: Media: Frauke Oberdieck,
+31-20-655-9616,
foberdieck@aercap.com, or
Investors: Peter Wortel,
+31-20-655-9658,
pwortel@aercap.com, both of AerCap
(AER)
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