AerCap Holdings NV

AerCap, the world’s largest aircraft and aircraft engine lessor, continues to benefit from strong demand and constrained supply across both aircraft and engines. Higher fuel prices associated with the Middle East conflict have contributed to some adjustment in airline capacity and increased pressure on weaker carriers, but we do not expect this to materially negatively impact AerCap and may present opportunities for AerCap’s nimble management team. We expect another quarter of strong financial results and elevated buyback activity. Although upside is more modest following recent share price appreciation, AerCap remains a high-quality compounder capable of creating significant shareholder value through sustained financial performance and disciplined capital allocation.

Aercap (AER) is the market leader in aircraft leasing, holding over 7% of the operating leased aircraft market. Despite the growth of air traffic surpassing pre-COVID levels, Aercap's share price has not reflected this recovery, remaining below its early 2020 levels. The company has successfully executed significant acquisitions, including GECAS from General Electric, and has demonstrated robust capital management strategies that its peers have struggled to implement. This positions Aercap favorably in a sector characterized by increasing demand for leased aircraft amidst a shortage of available planes.

Aercap (AER) is the market leader in aircraft leasing, holding over 7% of the operating leased aircraft market. Despite the growth of air traffic surpassing pre-COVID levels, Aercap's share price has not reflected this recovery, remaining below its early 2020 levels. The company has successfully executed significant acquisitions, including GECAS from General Electric, and has demonstrated robust capital management strategies that its peers have struggled to implement. This positions Aercap favorably in a sector characterized by increasing demand for leased aircraft amidst a shortage of available planes.

Aercap (AER) is the market leader in aircraft leasing, holding over 7% of the operating leased aircraft market. Despite the growth in air traffic and rising demand for narrowbody planes, Aercap's share price has not exceeded its pre-COVID levels, indicating a significant opportunity. The company has successfully executed strategic acquisitions, including GECAS from General Electric, and has demonstrated robust capital management strategies that its peers have struggled to implement. This positions Aercap favorably to capitalize on the ongoing demand-supply imbalance in the aircraft leasing industry.

AerCap (AER) is the market leader in aircraft leasing with a 7%+ share of operating leased aircraft. Despite the growth of air traffic above pre-COVID levels, AER's share price has not exceeded its early 2020 levels, indicating a significant opportunity. The company has benefitted from strategic acquisitions, including GECAS from General Electric in 2021, and has demonstrated robust capital management strategies that its peers have failed to embrace. This positions AER favorably in a sector characterized by rising passenger demand and a shortage of available aircraft.

AerCap, the world’s largest aircraft owner, is in the enviable position of having long-term leases and selling an undersupplied product. Over the past two years it has reduced its share count by 25% and the company may buy back more than 10% of its shares this year. A moderate recession is unlikely to significantly impact its revenue, and lower interest rates may modestly reduce its costs. As a result of these various moving pieces, our 2030 EPS estimates inch higher.

AerCap, the world’s largest aircraft owner, is in the enviable position of having long-term leases and selling an undersupplied product. Over the past two years it has reduced its share count by 25% and the company may buy back more than 10% of its shares this year. A moderate recession is unlikely to significantly impact its revenue, and lower interest rates may modestly reduce its costs. As a result of these various moving pieces, our 2030 EPS estimates inch higher.

AerCap, the world’s largest aircraft owner, is in the enviable position of having long-term leases and selling an undersupplied product. Over the past two years it has reduced its share count by 25% and the company may buy back more than 10% of its shares this year. A moderate recession is unlikely to significantly impact its revenue, and lower interest rates may modestly reduce its costs. As a result of these various moving pieces, our 2030 EPS estimates inch higher.