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Nov 10 2021, 15:55 GMT
AerCap Holdings
GECAS integration begins; leverage levels raise prospect of excess capital in 2022
- Sectors : Aircraft Leasing
- Companies : AerCap Holdings
DAVY VIEW
AerCap is beginning the (mammoth) task of integrating the GECAS business into its own. It can do so without distractions – the core business continues to firm up, pro-forma leverage levels are low and cash collection/receivables are trending better. We view AerCap as a deep-value play with a difference – the catalysts for value realisation are at-play and in motion.
