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AerCap raises annual earnings forecast, expands share buyback

Published 27/10/2023, 12:40
© Reuters. FILE PHOTO: AerCap logo is seen in this illustration March 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
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DUBLIN (Reuters) - AerCap raised its full-year earnings guidance and increased its share buyback programme by $500 million on Friday, on what the world's largest aircraft lessor described as robust demand from a booming airline industry.

Full-year adjusted earnings per share are expected to be approximately $9.50, Dublin-based AerCap said in a statement, up from a forecast of $8.50-$9.00 three months ago.

Basic lease rates in the three months to the end of September were up 7% on the same period last year, it said.

© Reuters. FILE PHOTO: AerCap logo is seen in this illustration March 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

The $500 million share repurchase program takes total authorisations to $2.65 billion so far this year.

"Our underlying business continues to perform well and demand for our assets remains robust," Chief Executive Officer Aengus Kelly said in a statement.

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