AerCap Holdings N.V. (NYSE: AER)

AerCap Holdings N. V. is a global leader in aviation leasing with a portfolio of aircraft engines and helicopters that are owned managed or on order. The company provides a broad range of assets for lease including narrowbody and widebody aircraft regional jets freighters engines and helicopters. It focuses on acquiring in demand flight equipment at attractive prices funding them efficiently hedging interest rate risk and using its platform to deploy assets to deliver superior risk adjusted returns. In addition to aircraft leasing AerCap operates cargo leasing through AerCap Cargo helicopter leasing through Milestone and parts distribution through AerCap Materials. The firm also offers asset management services for securitization vehicles joint ventures and third parties.

AerCap Holdings N. V. generates revenue primarily from leasing aircraft engines and helicopters under operating leases to airlines cargo operators and other users. The company also earns income from cargo leasing through AerCap Cargo which provides modern freighter aircraft to ecommerce express and general cargo operators. Helicopter leasing through Milestone contributes revenue via operating and finance leases purchase and leaseback arrangements and engine leasing services. AerCap Materials generates revenue from the distribution of airframe and engine components and from aircraft dismantling and parts sales. Additionally the firm receives fees for asset management and administrative services provided to securitization vehicles joint ventures and other third parties.

The company operates through the following segments.

• Aircraft Leasing segment owns manages and orders passenger and freighter aircraft for lease to airlines worldwide with a portfolio of 3 500 aircraft engines and helicopters as of December 31 2025 including 1 501 owned aircraft 148 managed aircraft and 283 aircraft on order and provides leasing services that generate the majority of the company's revenue.

• AerCap Cargo segment operates as a global leader in the air cargo market with a fleet of approximately 120 aircraft that are owned serviced or committed for conversion offering 11 types of modern narrowbody and widebody freighters to about 25 customers worldwide including Kalitta Air and Amazon and participates in freighter conversion programs such as the Big Twin Boeing 777 300ER conversion and the Boeing 767 300BDSF and the Boeing 737 800BCF and the A321P2F programs.

• Engine Leasing segment is the world’s largest lessor of spare engines with over 1 200 owned managed and on order engines including those held by the Shannon Engine Support joint venture focusing on new technology GE and CFM engines that power popular aircraft such as the Airbus A320 family and Boeing 737 and 787 models and provides leasing guaranteed availability administrative servicing light maintenance logistics and optimization services to approximately 150 customers including GE Aerospace and CFMI.

• Helicopter Leasing segment operated by Milestone is the world’s leading helicopter leasing and financing company with 335 helicopters owned or on order as of December 31 2025 providing operating leases finance leases purchase and leaseback transactions engine leasing and fleet advisory services to about 50 customers in over 35 countries serving sectors such as offshore oil and gas offshore wind search and rescue emergency medical services police surveillance and utility missions and has major customers including CHC Helicopter Bristow Helicopters Saudi Aramco and Omni Helicopters International.

• AerCap Materials segment distributes airframe and engine components for leading aircraft and engine manufacturers operates a dismantlement facility in Greenwood Mississippi maintains a large inventory of parts for aircraft such as the Boeing 737NG Boeing 777 Airbus A320 and A320neo family and Embraer models and provides consignment services asset leasing and repair management to airlines maintenance repair and overhaul providers and parts distributors.

AerCap Holdings N. V. holds a leading position in the global aviation leasing industry being recognized as the industry leader across all segments of aircraft cargo engine and helicopter leasing. The company claims to be the world’s largest lessor of spare engines and the world’s leading helicopter leasing firm through its Milestone subsidiary. Its competitive advantages stem from its extensive infrastructure expertise and financial resources that enable it to execute numerous transactions in varying market conditions and from its proven ability to acquire integrate and manage businesses as demonstrated by the purchases of Genesis Lease International Lease Finance Corporation and GE Capital Aviation Services. While it faces competition from other leasing companies airlines manufacturers brokers and financial institutions AerCap’s diversified fleet global customer relationships and strong ties with original equipment manufacturers such as Airbus Boeing and CFM help it maintain a strong market stance.

AerCap Holdings N. V. serves a diverse customer base that includes airlines cargo operators helicopter operators and industrial users across the world. Specific customers named in the filing are American Airlines Azul Airlines China Southern Airlines EgyptAir SES Kalitta Air Amazon CHC Helicopter Bristow Helicopters Saudi Aramco and Omni Helicopters International as well as engine manufacturers GE Aerospace and CFMI. The company’s lessees are located in every major geographical region with revenue split roughly 30 percent Asia/Pacific 28 percent Europe 19 percent United States/Canada/Caribbean 12 percent Latin America and 11 percent Africa/Middle East.