AerCap reports record net income of US$1.26bn for Q2 2025

AerCap Holdings N.V., the world’s largest aviation leasing company, reported record net income of US$1.26 billion for the second quarter of 2025, driven by strong operating performance and a favourable court ruling in its long-running insurance case.

Adjusted net income for the quarter came in at US$502 million. On the back of these results, the company has raised its full-year 2025 adjusted earnings guidance to US$11.60 per share, not including any future gains from asset sales.

CEO Aengus Kelly said the results reflected strong demand for aviation assets, citing a 97% lease extension rate and a robust market outlook.

“We generated record net income, driven by strong operating results and the favourable June court judgment in our insurance case. We also announced a new strategic partnership for engine leasing with Air France-KLM that will expand our ability to support LEAP engine operators. Global demand for aviation assets remains high, as evidenced by our 97% lease extension rate during the second quarter. Based on AerCap’s strong first-half results and positive outlook for the remainder of the year, we have increased our 2025 full-year EPS guidance,” he said.

Key contributors to the quarter’s results include a US$1 billion insurance award related to aircraft and engines stranded in Russia following the Ukraine conflict. The London Commercial Court’s decision in AerCap’s favour significantly boosted the company’s net earnings.

Other financial highlights for Q2 2025 include return on equity of 29% and adjusted ROE of 11%; operating cash flow of US$1.3 billion; Capex of $734 million for the purchase of 11 aircraft, five engines, and five helicopters; US$2.9 billion in new financing transactions; and US$445 million returned to shareholders via share buybacks.

AerCap also announced a new engine leasing partnership with Air France-KLM, and a framework agreement with Leonardo S.p.A. to ease helicopter maintenance transitions.

The company’s book value per share rose to US$102.99, up 15% year-on-year. As of June 30, AerCap’s aviation portfolio included 3,508 aircraft, engines, and helicopters, with an average aircraft age of 7.6 years.