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AerCap Holdings N.V.

For the period ended Dec 31, 2025. Filed Feb 6, 2026.

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About this filing

What a company based outside the US has published at home or sent to its shareholders. It is how many foreign companies share results and news between annual reports.

Dec 31, 2025 · Filed Feb 6, 2026

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AER$169.64+2.1%Stored close · as of Nov 6, 2026
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EX-99.1 · Forward-Looking Statements

Forward-Looking Statements

This press release contains certain statements, estimates and forecasts with respect to future performance and events. These statements, estimates and forecasts are “forward-looking statements”. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “might,” “should,” “expect,” “plan,” “intend,” “will,” “aim,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue” or the negatives thereof or variations thereon or similar terminology. All statements other than statements of historical fact included in this press release are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, and may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied in the forward-looking statements, including but not limited to the availability of capital to us and to our customers and changes in interest rates; the ability of our lessees and potential lessees to make lease payments to us; our ability to successfully negotiate flight equipment (which includes aircraft, engines and helicopters) purchases, sales and leases, to collect outstanding amounts due and to repossess flight equipment under defaulted leases, and to control costs and expenses; changes in the overall demand for commercial aviation leasing and aviation asset management services; the continued impacts of the Ukraine Conflict, including the resulting sanctions by the United States, the European Union, the United Kingdom and other countries, on our business and results of operations, financial condition and cash flows; the effects of terrorist attacks on the aviation industry and on our operations; the economic condition of the global airline and cargo industry and economic and political conditions; the impact of hostilities in the Middle East and Latin America, or any escalation thereof, on the aviation industry or our business; trade tensions, including actual or threatened U.S. tariffs and retaliatory measures by some countries, and the resulting geopolitical uncertainty; development of increased government regulation, including travel restrictions, sanctions, regulation of trade and the imposition of import and export controls, tariffs and other trade barriers; a downgrade in any of our credit ratings; competitive pressures within the industry; regulatory changes affecting commercial flight equipment operators, flight equipment maintenance, engine standards, accounting standards and taxes; and disruptions and security breaches affecting our information systems or the information systems of our third-party providers.

As a result, we cannot assure you that the forward-looking statements included in this press release will prove to be accurate or correct. These and other important factors and risks are discussed in AerCap’s annual report on Form 20-F and other filings with the United States Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this press release might not occur. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information regarding AerCap and to be added to our email distribution list, please visit www.aercap.com.

AerCap Holdings N.V.
Unaudited Consolidated Balance Sheets
(U.S. Dollars in thousands)
December 31, 2025 · December 31, 2024
Assets
Cash and cash equivalents$1,379,180$1,209,226
Restricted cash100,564192,356
Trade receivables48,49968,073
Flight equipment held for operating leases, net57,796,32058,575,672
Investment in finance leases, net1,807,4941,208,585
Flight equipment held for sale1,104,310466,173
Maintenance rights and lease premium, net1,677,4072,129,993
Prepayments on flight equipment4,272,7663,460,296
Other intangibles, net117,789139,666
Deferred tax assets172,877261,004
Associated companies1,315,3061,128,894
Other assets1,879,2782,602,038
Total Assets$71,671,790$71,441,976
Liabilities and Equity
Accounts payable, accrued expenses and other liabilities$1,897,392$1,774,827
Accrued maintenance liability3,534,3883,327,347
Lessee deposit liability1,185,0331,092,585
Debt43,565,32145,294,511
Deferred tax liabilities3,166,1652,767,874
Total Liabilities53,348,29954,257,144
Ordinary share capital, €0.01 par value, 450,000,000 ordinary shares authorized as of December 31, 2025 and 2024; 179,043,739 and 204,543,739 ordinary shares issued and 166,876,547 and 186,783,225 ordinary shares outstanding (including 4,135,620 and 5,072,382 shares of unvested restricted stock) as of December 31, 2025 and 2024, respectively2,2672,558
Additional paid-in capital3,517,9635,809,276
Treasury shares, at cost (12,167,192 and 17,760,514 ordinary shares as of December 31, 2025 and 2024, respectively)(1,467,321)(1,425,652)
Accumulated other comprehensive (loss) income(50,210)42,683
Accumulated retained earnings16,320,58112,755,758
Total AerCap Holdings N.V. shareholders’ equity18,323,28017,184,623
Non-controlling interest211209
Total Equity18,323,49117,184,832
Total Liabilities and Equity$71,671,790$71,441,976
AerCap Holdings N.V.
Unaudited Consolidated Income Statements
(U.S. Dollars in thousands, except share and per share data)
Three months ended December 31, · Year ended December 31,
2025 · 2024 · 2025 · 2024
Revenues and other income
Lease revenue:
Basic lease rents$1,687,817$1,618,684$6,679,477$6,377,181
Maintenance rents and other receipts224,944105,944689,993626,816
Total lease revenue1,912,7611,724,6287,369,4707,003,997
Net gain on sale of assets253,447259,968819,482651,142
Other income78,10587,686327,716341,505
Total Revenues and other income2,244,3132,072,2828,516,6687,996,644
Expenses
Depreciation and amortization653,022657,1462,647,1682,580,037
Net recoveries related to Ukraine Conflict(42,730)(168,067)(1,490,431)(194,750)
Asset impairment53,50316,964100,83849,766
Interest expense474,287504,6701,981,9281,990,732
Loss on debt extinguishment2,2925,9684,93213,450
Leasing expenses379,740214,120647,571810,358
Selling, general and administrative expenses133,115122,984545,933488,916
Total Expenses1,653,2291,353,7854,437,9395,738,509
Gain on investments at fair value38,9451,67013,2835,238
Income before income taxes and income of investments accounted for under the equity method630,029720,1674,092,0122,263,373
Income tax expense(77,661)(92,507)(555,246)(323,704)
Equity in net earnings of investments accounted for under the equity method80,43843,559213,848158,956
Net income$632,806$671,219$3,750,614$2,098,625
Net (income) loss attributable to non-controlling interest(10)(1)(2)7
Net income attributable to AerCap Holdings N.V.$632,796$671,218$3,750,612$2,098,632
Basic earnings per share$3.86$3.66$21.78$11.06
Diluted earnings per share$3.79$3.56$21.30$10.79
Weighted average shares outstanding—basic163,937,118183,617,156172,180,968189,830,813
Weighted average shares outstanding—diluted166,851,436188,361,755176,115,641194,489,171
AerCap Holdings N.V.
Unaudited Consolidated Statements of Cash Flows
(U.S. Dollars in thousands)
Year ended December 31,
2025 · 2024
Net income$3,750,614$2,098,625
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization2,647,1682,580,037
Net recoveries related to Ukraine Conflict(1,490,431)(194,750)
Asset impairment100,83849,766
Amortization of debt issuance costs, debt discount, debt premium and lease premium174,387223,649
Maintenance rights write-off158,059342,933
Maintenance liability release to income(227,385)(163,405)
Net gain on sale of assets(819,482)(651,142)
Deferred tax expense501,497250,504
Share-based compensation166,239111,140
Collections of finance leases322,025367,173
Gain on investments at fair value(13,283)(5,238)
Loss on debt extinguishment4,93213,450
Other(225,785)165,357
Changes in operating assets and liabilities:
Trade receivables19,5365,852
Other assets340,175241,143
Accounts payable, accrued expenses and other liabilities(15,980)1,549
Net cash provided by operating activities5,393,1245,436,643
Purchase of flight equipment(3,653,925)(5,062,507)
Proceeds from sale or disposal of assets2,871,5622,674,974
Prepayments on flight equipment(2,420,373)(1,553,851)
Cash proceeds from insurance claim settlements1,488,519172,000
Net proceeds from loans receivable105,11272,458
Other(55,425)(27,281)
Net cash used in investing activities(1,664,530)(3,724,207)
Issuance of debt5,351,8437,641,379
Repayment of debt(7,082,721)(8,799,950)
Debt issuance and extinguishment costs paid, net of debt premium received(55,343)(106,512)
Maintenance payments received969,885920,932
Maintenance payments returned(248,634)(248,017)
Security deposits received447,415344,816
Security deposits returned(304,869)(224,846)
Repurchase of shares and tax withholdings on share-based compensation(2,538,200)(1,520,320)
Dividends paid on ordinary shares(192,437)(139,991)
Net cash used in financing activities(3,653,061)(2,132,509)
Net increase (decrease) in cash, cash equivalents and restricted cash75,533(420,073)
Effect of exchange rate changes2,629(3,811)
Cash, cash equivalents and restricted cash at beginning of period1,401,5821,825,466
Cash, cash equivalents and restricted cash at end of period$1,479,744$1,401,582
ContentsView on SEC.gov

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