DUBLIN, Nov. 2, 2021 /PRNewswire/ -- AerCap Holdings
N.V. ("AerCap") (NYSE: AER) has announced that following its
acquisition of the GE Capital Aviation Services business ("GECAS"),
it has signed a 20-year joint venture agreement with Safran
Aircraft Engines ("Safran") regarding Shannon Engine Support
("SES"). SES, the leading provider of spare engines for CFM
International, is now a 50/50 joint company between AerCap and
Safran.
SES, the world's largest lessor of CFM56 and LEAP engines, will
continue to provide lease engine support to CFM and CFM
operators.
Aengus Kelly, CEO of AerCap, said, "The SES business is a great
fit within the AerCap portfolio, with similar expertise, common
assets and a complementary customer base to our wholly owned engine
leasing business. This partnership extends our longstanding
relationship with Safran, one of the world's leading aviation
companies. We look forward to working with the team at Safran to
drive continued success at SES."
Jean-Paul Alary, CEO of Safran Aircraft Engines, said, "The SES
joint venture with AerCap is a key asset of supporting our CFM
operators, especially as the CFM56 and the LEAP engines continue to
achieve strong success in the marketplace. Having AerCap, the
largest aviation lessor, as a strategic partner significantly adds
to our customer offering."
About AerCap
AerCap is the global leader in aviation leasing with one of the
most attractive order books in the industry. AerCap serves
approximately 300 customers around the world with comprehensive
fleet solutions. AerCap is listed on the New York Stock Exchange
(AER) and is based in Dublin with
offices in Shannon, Los Angeles,
Singapore, Amsterdam, Shanghai, Abu
Dhabi, Seattle, Toulouse
and other locations around the world.
About SAFRAN
Safran is an international high-technology group, operating
in the aviation (propulsion, equipment and interiors), defense and
space markets. Its core purpose is to contribute to a safer, more
sustainable world, where air transport is more environmentally
friendly, comfortable and accessible. Safran has a global presence,
with 76,000 employees and sales of 16.5
billion euros in 2020 and holds, alone or in partnership,
world or regional leadership positions in its core markets. Safran
is listed on the Euronext Paris stock exchange, and is part of the
CAC 40 and Euro Stoxx 50 indices.
Safran Aircraft Engines designs, produces, sells, alone
or in partnership, commercial and military aircraft engines
offering world-class performance, reliability and
environmental-friendliness. Through CFM International*, Safran
Aircraft Engines is the world's leading supplier of engines for
short and medium-haul commercial jets.
*CFM is a 50/50 joint company between Safran Aircraft Engines
and GE
About SES
Shannon Engine Support is the world's largest lessor of CFM56
and LEAP engines, with the largest portfolio strategically located
worldwide. With over 30 years' experience and a wealth of technical
expertise, SES offers airlines assurance to help them find the
right solution to suit their requirements. Headquartered in
Shannon, Ireland, with marketing
offices in Beijing, China and
Budapest, Hungary, SES has a
portfolio of more than 350 CFM56 and LEAP spare engines,
including CFM56-5B,
CFM56-7B, LEAP-1A and LEAP-1B
engines.
Forward-Looking Statements
This press release 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, forward-looking 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 press release are forward-looking statements and are based on
various underlying assumptions and expectations and are subject to
known and unknown risks, uncertainties and assumptions, and 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, including the impacts of, and
associated responses to: the Covid-19 pandemic; our ability to
successfully integrate GECAS' operations and employees and realize
anticipated synergies and cost savings; and the potential impact of
the consummation of the proposed GECAS transaction on
relationships, including with employees, suppliers, customers and
competitors. 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, we cannot assure you that the
forward-looking statements included in this press release 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 press release
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. Except as required by
applicable law, 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.
For more information regarding AerCap and to be added to our
email distribution list, please visit www.aercap.com and follow us
on Twitter www.twitter.com/aercapnv.
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SOURCE AerCap Holdings N.V.