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AerCap CEO doesn't expect US election to hit aviation industry

AerCap had sold out of new planes for delivery until 2019, its CEO Aengus Kelly said
AerCap had sold out of new planes for delivery until 2019, its CEO Aengus Kelly said

Aircraft leasing giant AerCap does not believe the result of the US presidential election will disrupt growth for the aviation industry.

This is because of the resilience of travel demand to other shocks in recent years, its CEO said today. 

"What we do know is that over last two and a half years, we've faced an awful lot of global shocks - Ebola, Zika, the downturn in Brazil, the attempted coup in Turkey, Brexit," CEO Aengus Kelly told journalists after Irish-based AerCap reported third-quarter results. 

"So long as a commitment to free trade is preserved, I think economies will grow and this company will grow with it," he said. 

Kelly said AerCap, the world's largest independent aircraft leasing company, was seeing "a significant uptick in demand" for used aircraft as airlines seek to make better use of their capital and improve shareholder returns. 

Both Lufthansa and Aer Lingus and BA owner IAG have expressed more interest in used planes of late to keep capital expenditure down. 

Kelly said prices were not falling for popular planes such as the A320 and the 737, the workhorses of short-haul routes. 

Demand for new planes remains good, he added, saying AerCap had sold out of new planes for delivery until 2019.