AerCap Sells Second Aircraft Portfolio to NCB Capital

AerCap Holdings N.V. ("AerCap") (NYSE: AER) announced today that it has signed an agreement to sell a 19-aircraft portfolio to Dara Aviation ("Dara"), an Irish entity established by NCB Capital. NCB Capital has $40bn of assets under management and is the brokerage arm of the National Commercial Bank, the largest bank in Saudi Arabia.

This is the second portfolio acquired by NCB Capital from AerCap following their purchase of 21 aircraft in 2017, which AerCap services.

The 19-aircraft portfolio consists of a mix of wide-body and narrow-body aircraft on lease to airlines around the world. As part of the sale, Dara has appointed AerCap as exclusive Servicer. AerCap will provide lease management services including aircraft technical management, lease administration and marketing services.

"We are very pleased to work with NCB Capital on this second innovative transaction. It reaffirms the attractiveness of our aviation assets globally and the reach and scale of the AerCap platform," said Aengus Kelly, CEO of AerCap. "With this sale, AerCap will have sold or contracted to sell approximately $1.4bn of mid-life assets to NCB since 2017. We thank NCB Capital for the confidence they have placed in AerCap and we look forward to working with the NCB Capital team for many years to come."

Sarah Al Suhaimi, Chief Executive Officer of NCB Capital said, "This innovative transaction and the application of new Shariah-compliant credit facilities, reaffirms NCB Capital's commitment to being at the forefront of the local and regional asset management sectors. We are delighted to have partnered once again with leading financial institutions and AerCap."