AerCap has completed 29 aircraft transactions during the first quarter 2014. The lessor signed lease agreements for 15 aircraft. The average term of lease agreements contracted during the past twelve months was 163 months for new aircraft and 60 months for used aircraft.
AerCap delivered seven aircraft under contracted lease agreements, including four Boeing 737-800s, one Boeing 747-400SF and two Airbus A320-200s.
It purchased three aircraft, including two new Boeing 737-800s and one Airbus A330-300, and closed the sale of four aircraft. AerCap sold one Airbus A330-300 from its owned portfolio and one Boeing 737-400, one Boeing 737-300 and one Boeing 767-300ER from its managed portfolio.
The lessor also signed financing transactions for $2.8 billion. During the first quarter 2014 AerCap entered into an agreement to replace ILFC's $2.3 billion unsecured revolving credit facility with a new $2.75 billion four-year unsecured revolving credit facility, to become effective upon the closing of the ILFC transaction.
As of March 31, 2014, AerCap's portfolio consisted of 377 aircraft that were either owned, managed, or under contract to purchase (including five options). The average age of the owned fleet as of March 31, 2014 was 5.6 years and the average remaining contracted lease term was 6.6 years.