AerCap Holdings (AER) Signs Pre-Payment and Long Term Funding Facility for Four Airbus A330 Aircraft
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AerCap Holdings N.V. (NYSE: AER) today announced that it has signed a series of agreements with China Development Bank which provides funding for $86 million of pre-delivery payments and a $272 million long term funding facility covering four new Airbus A330 aircraft with deliveries scheduled in 2010 and 2011. The four aircraft are part of AerCap's 30 A330 order placed in 2006/2007 with deliveries scheduled until 2012.
Keith Helming, Chief Financial Officer of AerCap said: "AerCap is delighted to enter the rapidly developing Chinese aviation financing market with an agreement to provide $358 million of funding for four of our A330s. China is becoming increasingly involved in international aircraft funding, and China Development Bank is becoming recognized as one of the premier players in aviation financing. We are delighted to be broadening our sources of capital with them through this important milestone transaction."
Keith Helming, Chief Financial Officer of AerCap said: "AerCap is delighted to enter the rapidly developing Chinese aviation financing market with an agreement to provide $358 million of funding for four of our A330s. China is becoming increasingly involved in international aircraft funding, and China Development Bank is becoming recognized as one of the premier players in aviation financing. We are delighted to be broadening our sources of capital with them through this important milestone transaction."
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