AerCap Reworks Airplane Delivery Schedule
AerCap Holdings (NYSE: AER) said Tuesday that it has negotiated the deferral of 37 aircraft originally expected to be delivered in 2021 and 2022 to later years, giving the aircraft leasing company more flexibility to manage things through the COVID-19 pandemic.
Travel demand has been hit hard by the pandemic, causing airlines to scale back growth plans and ground planes. That has created new risk for companies like AerCap that count on airlines as customers. Shares of AerCap have lost 50% of their value year to date and were down 75% year to date as recently as March, on investor fears AerCap would be left holding aircraft that it would be unable to place with airlines.
Image source: Getty Images.
Source Fool.com
