JP Morgan Industrials Conference 2020 - AerCap Holdings N.V - cloudfront.net
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JP Morgan Industrials Conference 2020 AerCap Holdings N.V. March 11, 2020 D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
Disclaimer Including Forward Looking Statements & Safe Harbor
This presentation contains certain statements, estimates and forecasts with as required by applicable law, we do not undertake any obligation to, and will
respect to future performance and events. These statements, estimates and not, update any forward-looking statements, whether as a result of new
forecasts are “forward-looking statements.” In some cases, forward-looking information, future events or otherwise.
statements can be identified by the use of forward-looking terminology such as
“may,” “might,” “should,” “expect,” “plan,” “intend,” “estimate,” “anticipate,” No warranty or representation is given concerning such information, which
“believe,” “predict,” “potential” or “continue” or the negatives thereof or must not be taken as establishing any contractual or other commitment binding
variations thereon or similar terminology. All statements other than statements upon AerCap Holdings N.V. or any of its subsidiaries or associated companies.
of historical fact included in this presentation are forward-looking statements In addition to presenting financial results in conformity with U.S. generally
and are based on various underlying assumptions and expectations and are accepted accounting principles (“GAAP”), this presentation includes certain
subject to known and unknown risks, uncertainties and assumptions and may non-GAAP financial measures. Reconciliations of such non-GAAP financial
include projections of our future financial performance based on our growth measures are set forth or referred to in the presentation where relevant. Non-
strategies and anticipated trends in our business. These statements are only GAAP financial measures should be considered in addition to, not as a
predictions based on our current expectations and projections about future substitute for or superior to, financial measures determined in conformity
events. There are important factors that could cause our actual results, level of with GAAP.
activity, performance or achievements to differ materially from the results, level
of activity, performance or achievements expressed or implied in the forward- Due to rounding, numbers presented throughout this document may not add
looking statements. As a result, we cannot assure you that the forward-looking up precisely to the totals provided and percentages may not precisely reflect
statements included in this presentation will prove to be accurate or correct. In the absolute figures.
light of these risks, uncertainties and assumptions, the future performance or
events described in the forward-looking statements in this presentation 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
© AerCap | Confidential property of the company, not for disclosure or use without permission 2Today’s Key Messages
Air travel has always rebounded after dips
AerCap is the global leader in aircraft leasing
AerCap maintains a strong liquidity position
Track record of long-term value creation will continue
© AerCap | Confidential property of the company, not for disclosure or use without permission 3Air Travel Growth is Resilient
Air traffic doubles every 15 years
World Annual Traffic
Oil, Financial, Expected
Oil Gulf Asian 9/11 & Euro crises growth p.a.
crisis crisis crisis & SARS & Russia, Ebola through 2038
RPK
(trillion)
20
4.3%
15
10
x2 x2
5 x2
0
1978 1983 1988 1993 1998 2003 2008 2013 2018 2023 2028 2033 2038
Airbus Global Market Forecast 2019-2038, RPK: Revenue-Passenger-Kilometers.
IATA December 2019 Air Passenger Market Analysis.
IATA December 2019 Forecast – Actual for 2018 and forecast for 2019, for global commercial airlines.
© AerCap | Confidential property of the company, not for disclosure or use without permission 4China – Impact so far
Rebound in Chinese Air Travel beginning
China Daily Scheduled Flights (International and Domestic, All Carriers)
18,000
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
-
Jan 2 Jan 9 Jan 16 Jan 23 Jan 30 Feb 6 Feb 13 Feb 20 Feb 27 Mar 5 Mar 12 Mar 19
© AerCap | Confidential property of the company, not for disclosure or use without permission 5At AerCap, Balance Sheet Always Comes First
AerCap’s balance sheet has never been better positioned for a downturn
$28.2bn Of Unencumbered Assets
$8.2bn Of Available Liquidity
$3.1bn Of Expected Operating Cash Flow in 2020
$3.5bn Of Cash Capex in 2020
$3.5bn Of Debt Maturities in 2020
As of December 31, 2019
© AerCap | Confidential property of the company, not for disclosure or use without permission 6Lessee Diversification Mitigates Risk
Diversified customer base with ~200 lessees in ~80 countries
13% 28% 38%
NORTH AMERICA EUROPE ASIA PACIFIC
& CARIBBEAN & RUSSIA
11% 10%
SOUTH MIDDLE EAST
AMERICA & AFRICA
Based on Lease Rents as of December 31, 2019.
© AerCap | Confidential property of the company, not for disclosure or use without permission 7AerCap’s Consistent Fleet Utilization
AerCap has achieved high fleet utilization through all economic cycles
AerCap Fleet Utilization
Oil Financial European Ebola/Russian Brexit / Trade
Crisis Crisis Crisis Crisis Wars
100% Maximum → 99.6%
98%
Minimum → 97.7%
96%
Peak oil
Annual Utilization Rate
94%
92%
$145/bbl
EBOLA
90%
88%
86%
84%
82%
80%
© AerCap | Confidential property of the company, not for disclosure or use without permission 8AerCap Activity Continues
AerCap executed over 80 deals in the first 10 weeks of 2020
2020 YTD Activity
LOIs Signed
Sales Closed
Deliveries
Extensions
Leases Signed
Sale LOIs
0 5 10 15 20 25 30
Jan Feb Mar
© AerCap | Confidential property of the company, not for disclosure or use without permission 9Well-Positioned for the Future
~$40 ~97% 3Q
58%
BILLION CONTRACTED 2027
CONTRACTED FUTURE LEASE RENTS AVERAGE NEW TECHNOLOGY
LEASE RENTS THROUGH 2022 LEASE END DATE AIRCRAFT AS % OF
CURRENT FLEET NBV
© AerCap | Confidential property of the company, not for disclosure or use without permission 10AerCap House T: +353 1 819 2010 65 St. Stephen’s Green E: contact@aercap.com Dublin D02 YX20 W: aercap.com Ireland D u b l i n | S h a n n o n | L o s A n g e l e s | S i n g a p o r e | A m s t e r d a m | S h a n g h a i | A b u D h a b i | S e a t t l e | T o u l o u s e
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