The world's top aircraft lessor AerCap has today raised its earnings outlook for the year citing robust demand for air travel and growing demand for both new and used aircraft.
The Ireland-based plane lessor raised its forecast for adjusted earnings per share to a range of $8-8.50 from a previous range of $6.50 to $7, "given strong performance year to date and fourth quarter outlook," it said.
"We continued to see robust demand for air travel and growing demand for both new and used leased aircraft and engines," AerCap's chief executive Aengus Kelly said.
"We generated strong net income and cash flow and achieved our target leverage ratio well ahead of our expectations. As a result, we are raising our guidance for full year 2022," he added.
During the three months to the end of September, AerCap reported net income of $440m.
It said its total lease revenue for the third quarter jumped by 66% to $1.593 billion from $958m the same time last year.
AerCap said it agreed 255 transactions including 184 lease deals, 34 purchases and 37 sales during the third quarter.
