CASE STUDY

AerCap’s US$7.6 billion Acquisition of ILFC from AIG

We advised AerCap on the largest M&A deal in the aviation industry to date, creating the leading global franchise in the aircraft leasing industry.

iconHighlights

$45 billion total assets

Making AerCap the leading player in the aircraft leasing industry.

1,300+ aircraft

Total fleet size created, accompanied by a highly attractive order book.

Industry Leader

Creation of the leading global franchise in the aircraft leasing industry.

The Largest M&A Deal in the History of Aircraft Leasing

In December 2013, AIG announced its intention to enter into an agreement under which it would sell its 100 percent interest in International Lease Finance Corporation (ILFC), a non-core asset, to AerCap Holdings N.V., a global leader in aircraft leasing and aviation finance. AerCap paid AIG $3 billion in cash and 97,560,976 AerCap ordinary shares, which represented an approximately 46% ownership position in AerCap’s ordinary share capital.

We advised AerCap in relation to its US$7.6 billion acquisition of ILFC from AIG, its US$2.6 billion bond issuance and the reorganisation and transfer of the majority of the ILFC fleet (approximately 900 aircraft) into Ireland. The deal, which is the largest M&A deal in the aviation industry to date, gives AerCap a combined fleet of approximately 1,300 aircraft in addition to its significant combined order book.

The team, lead by Hilary Marren, drew on the expertise of a number of departments across the firm including the asset finance, corporate, regulatory, capital markets, listing, competition and employment teams.

With approximately $45 billion of assets coupled with a diverse fleet of 1,300 aircraft and an attractive forward order book, AerCap will be a driving force in the industry.

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