GE Stock – AerCap (AER) Stock is Higher After Announcing First Quarter Transactions
What is going on with AER?
Shares of AerCap (AER) rose on Wednesday after the company released its major business transactions for the first quarter of 2021, as well as news of its partnership agreement with General Electric (GE). As of Wednesday at 1:41pm, AER had risen 0.76% to $59.46 per share.
What does this mean for AerCap?
AerCap reported strong sales numbers, with the company doubling its lease deals in the first quarter. In addition to the signed lease agreements for 60 aircraft, AER also reported that it purchased one aircraft, executed sales transactions for nine aircraft, and issued $1 billion of 5-year senior unsecured notes with a 1.75% coupon.
Additionally, AerCap acquired 100% of GE Capital Aviation Services (“GECAS”), a GE business, as previously announced. The total deal is a combination of a bridge credit agreement, a term loan agreement, and a revolving credit agreement for an aggregate amount of $28.4 billion.
AER has an Overall Score of 84. Find out what this means to you and get the rest of the rankings on AER!
AerCap Holdings NV is an aircraft leasing company. Its major activities include leasing, financing, sales, and management of commercial aircraft and engines. They also provide aircraft asset management and corporate services to securitization vehicles, joint ventures, and other third parties. Through its subsidiary, the group also provides engine leasing, certified aircraft engines, airframes, and engine parts. Its geographical segments include China, United States, and Other countries.