AerCap announces $3B order, $500M share repurchase plan and quarterly dividend

AerCap made several announcements, including a deal with Safran Aircraft Engines and Shannon Engine Support for the purchase of 150 new CFM LEAP spare engines valued at approximately $3B at list prices; the board of directors has authorized a new $500M share repurchase program through December 31 and the board has declared the initiation of the company’s first quarterly dividend on its common stock of 25c per share. This initial quarterly dividend is to be payable on June 13 to shareholders of record at close of business on May 22. The engines will be managed by SES. SES is a 50/50 joint-venture company between Safran and AerCap. The additional engines will deliver in line with the growing fleet of in-service Boeing 737MAX and Airbus A320neo Family aircraft.