AerCap Announces Delivery Of First Three Airbus A321neo Aircraft To AirAsia As Part Of Fifteen Aircraft Deal

AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced the delivery of the first three of fifteen new Airbus A321neo aircraft on long-term lease to AirAsia Group* (AirAsia). The remaining 12 units are scheduled to deliver in 2024 and 2025.

To mark the delivery of the new A321neo aircraft and the strengthening of their operational fleet to 200 aircraft, AirAsia hosted a special ceremony at their corporate headquarters, RedQ in Malaysia. The event was attended by the Deputy Minister of Transport Malaysia, Yang Berhormat Datuk Haji Hasbi bin Haji Habibollah, Bo Lingam, CEO of AirAsia Aviation Group, Farouk Kamal, Deputy CEO (Corporate) of AirAsia Aviation Group, among other senior representatives from AirAsia Aviation Group and Airbus.

Speaking at the event, Peter Anderson, the Chief Commercial Officer of AerCap, said, "The partnership between AirAsia and AerCap dates back nearly 30 years to the founding of the airline, and it is a great pleasure to celebrate the expansion of AirAsia's fleet as we start to deliver a stream of fifteen new Airbus A321neo aircraft. These A321neo aircraft will complement AirAsia's current fleet and will bring improved cost and operational efficiencies, with more capabilities to support its continued expansion throughout the region, and well into the future. We congratulate Datuk Kamarudin Meranun, Tony Fernandes, Bo Lingam, Farouk Kamal, and the entire AirAsia team, and wish them continued success in the years to come."

CEO of AirAsia Aviation Group, Bo Lingam said: "This year marks a pivotal year for AirAsia's growth as we resume our Airbus A321neo deliveries, aligning with the strong forecast demand. These new aircraft are game-changers, allowing us to enhance our route network, offer longer-range flights, and improve operational efficiency. We are also proud to be working with AerCap, the largest aviation leasing company in the world known for its extensive portfolio and global reach which underscores the industry confidence in our growth trajectory, while Airbus remains instrumental in our expansion plans over the next five years. These aircraft will be a key enabler for our Fly-thru services that have been integral to our network growth. AirAsia's Fly-Thru guests have grown to 18% this year, and with the new aircraft, this is expected to increase to 25% by 2025. Looking ahead, we anticipate our fleet to exceed 300 aircraft within the next five years, carrying over 100 million guests annually. This expansion marks the beginning of AirAsia's new era as the world's first low-cost network carrier, with the aim to connect Asean with the world and vice versa."