AerCap Leases Two Boeing 737-8 Max Jets to Asky Airline in Africa

AerCap Holdings announced on Monday May 22 a new agreement to lease two pre-owned Boeing 737-8 Max aircraft to Asky, an airline headquartered in Togo, Africa. The delivery of these aircraft is scheduled to take place within the next few months.

In a statement, Aengus Kelly, CEO of AerCap, expressed his enthusiasm about the deal, stating, “We are thrilled to welcome Asky as a valued customer to AerCap and are especially proud to introduce the first Max aircraft in Togo. With 14 airline customers across the continent, AerCap is Africa’s largest lessor, dedicated to supporting the growth and advancement of aviation in Africa.”

Over the past 12 months, AerCap’s stock has experienced a notable increase of 28%, outperforming the Standard & Poor’s 500 stock index (SP500), which has recorded a gain of 7.5%.

According to Seeking Alpha contributor Dhierin Bechai, the strong demand for aircraft positions AerCap as a highly favorable investment, receiving a Strong Buy rating. Additionally, contributor IP Banking Research rates AerCap (AER) as a Strong Buy due to potential share buybacks.