AerCap Announces Delivery of First Three Airbus A321neo Aircraft to AirAsia as Part of Fifteen Aircraft Deal

DUBLIN, Aug. 1, 2024 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced the delivery of the first three of fifteen new Airbus A321neo aircraft on long-term lease to AirAsia Group* (AirAsia). The remaining 12 units are scheduled to deliver in 2024 and 2025.

To mark the delivery of the new A321neo aircraft and the strengthening of their operational fleet to 200 aircraft, AirAsia hosted a special ceremony at their corporate headquarters, RedQ in Malaysia. The event was attended by the Deputy Minister of Transport Malaysia, Yang Berhormat Datuk Haji Hasbi bin Haji Habibollah, Bo Lingam, CEO of AirAsia Aviation Group, Farouk Kamal, Deputy CEO (Corporate) of AirAsia Aviation Group, among other senior representatives from AirAsia Aviation Group and Airbus.

Speaking at the event, Peter Anderson, the Chief Commercial Officer of AerCap, said, "The partnership between AirAsia and AerCap dates back nearly 30 years to the founding of the airline, and it is a great pleasure to celebrate the expansion of AirAsia's fleet as we start to deliver a stream of fifteen new Airbus A321neo aircraft. These A321neo aircraft will complement AirAsia's current fleet and will bring improved cost and operational efficiencies, with more capabilities to support its continued expansion throughout the region, and well into the future. We congratulate Datuk Kamarudin Meranun, Tony Fernandes, Bo Lingam, Farouk Kamal, and the entire AirAsia team, and wish them continued success in the years to come."

CEO of AirAsia Aviation Group, Bo Lingam said: "This year marks a pivotal year for AirAsia's growth as we resume our Airbus A321neo deliveries, aligning with the strong forecast demand. These new aircraft are game-changers, allowing us to enhance our route network, offer longer-range flights, and improve operational efficiency. We are also proud to be working with AerCap, the largest aviation leasing company in the world known for its extensive portfolio and global reach which underscores the industry confidence in our growth trajectory, while Airbus remains instrumental in our expansion plans over the next five years. These aircraft will be a key enabler for our Fly-thru services that have been integral to our network growth. AirAsia's Fly-Thru guests have grown to 18% this year, and with the new aircraft, this is expected to increase to 25% by 2025. Looking ahead, we anticipate our fleet to exceed 300 aircraft within the next five years, carrying over 100 million guests annually. This expansion marks the beginning of AirAsia's new era as the world's first low-cost network carrier, with the aim to connect Asean with the world and vice versa."

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, Miami, Singapore, Memphis, Amsterdam, Shanghai, Dubai, Seattle, Toulouse and other locations around the world.

About AirAsia

The birth story of AirAsia, the aviation arm of Capital A, is an industry legend. It started back in 2001 when Tony Fernandes and Kamarudin Meranun bought an ailing airline with two aircraft and 200 staff and turned it into the fourth largest in Asia, with more than 200 aircraft and 21,000 staff across Malaysia, Thailand, Indonesia, Cambodia, the Philippines, and more. With affordability, inclusivity and accessibility underpinning the operation, AirAsia has carried more than 800 million guests to over 130 destinations in its network. With the mission to serve the underserved, it has connected people and places, and has largely been credited for democratizing air travel in the region with its famous tagline 'Now Everyone Can Fly'

*AirAsia Group refers to AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia, AirAsia Philippines, and AirAsia Cambodia

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," "will," "aim," "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. There are important factors, including the impacts of, and associated responses to the Ukraine Conflict, 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.

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SOURCE AerCap Holdings N.V.

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