Impairment charge pushes AerCap into third quarter loss

AerCap has reported a net loss of $850 million for the third quarter of 2020 compared to a net income of $270 million for the prior-year period. The aircraft lessor was pushed into a loss for the quarter by a $972 million non-cash impairment charge following a review of its widebody fleet. Aengus Kelly, Chief Executive Officer of AerCap, said: “We have reviewed each aircraft in our portfolio to ensure that our assumptions are reflective not only of conditions today, but, importantly, of those we believe are likely to prevail for the remaining useful life of each aircraft. After this