AerCap is reported to be finalizing the sale of mid-life 37 aircraft to DVB’s Deucalion, first reported by Flightglobal. KKR is reported to be taking an equity stake in the deal. AerCap has previously stated that it intends to sell $2bn worth of aircraft in 2016. Gary Liebowitz has opined that such a sale would “generate a low/mid-single-digit gross margin”, adding that aircraft sales are viewed favourably by the Wells Fargo analysts since it will reduce AerCap’s average fleet age and free up cash for additional highly-accretive share buybacks at 6x EPS and 0.86x P/B.

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