Q3 transactions weren't particularly special compared to past results yet they show continued, stable growth. The industry has rebounded from the lows in 2009d with even O'Hara airport in Chicago reporting record passengers for September. Airlines continue to lack the financial leverage to buy planes outright so the leasing business is set for continued growth. AER is becoming the premier public leasing company. Management remained aggressive during the global recession by purchasing Gensis Lease (GLS) and sticking with buying new Airbus planes. Those moves are starting to really pay off. The stock price will follow.
- Signed new lease agreements for three aircraft,
- Delivered 13 aircraft and 12 engines under lease agreements,
- Purchased 12 aircraft and eight engines,
- Sold five aircraft and five engines, and
- Disassembled seven aircraft and six engines.
- The average term of lease agreements for new aircraft signed during the first three quarters of 2010 was 138 months. The average term of lease agreements for used aircraft was 62 months (including letters of intent).