Aercap Holdings N.v. · NYSE:AER
Aercap — Merger or Acquisition (September 2009)
14 slides from Aercap's merger presentation, Sep 18, 2009
Slide 1: Investor & Analyst Update
September 18, 2009 Investor & Analyst Update
Slide 2: Merger of AerCap and Genesis Creates the World's Leading Independent Aircraft Leasing Company
2 Merger of AerCap and Genesis Creates the World’s Leading Independent Aircraft Leasing Company
Slide 3: Transaction Summary
3 Transaction Summary Notes: (1) With the meaning of Section 368(a)(1) of the Internal Revenue Code (2) Affirmative vote as defined by a majority of votes cast at a meeting at which a quorum is present At closing (the effective time), Genesis Lease Limited will amalgamate with AerCap International B
Slide 4: Transaction Rationale: Creating Value for Shareholders
4 Creates the leading global aircraft lessor with a capital structure independent from any parent with total assets of ~$8 billion, enterprise value of over $6 billion and ~$4 billion of contracted lease assets Combines Genesis sourced unrestricted cash of ~$200 million(1) with AerCap’s already cont
Slide 5: Why is the Combination of AerCap/Genesis Beneficial? AerCap perspective
5 Create New Global Leasing Partnerships Why is the Combination of AerCap/Genesis Beneficial? Key Strategic and Financial Objectives Advanced in a Single Transaction Stated Objective Become World’s Leading Independent Aircraft Leasing Company Deliver High Quality of Earnings Enhance Liquidity to Fun
Slide 6: Why is the Combination of AerCap/Genesis Beneficial? Genesis perspective
6 Increase Shareholder Value Why is the Combination of AerCap/Genesis Beneficial? Key Strategic and Financial Objectives Advanced in a Single Transaction Stated Objective Deliver Significant Portfolio Growth Create New Global Leasing Partnerships Deliver Significant Earnings Growth 45% average premi
Slide 7: Benefits of Combination Analysis (As of June 30, 2009)
7 Benefits of Combination Analysis (As of June 30, 2009) Notes: (1) Includes owned, managed and aircraft on order or subject to purchase contract or LOI (2) Based on owned aircraft only as of June 30, 2009 (3) Excludes impact of purchase accounting 59 52 61 Avg Lease Term (Mo.s) (2) Makes combined c
Slide 8: Benefits of Combination Analysis Cont'd (As of June 30, 09)
8 Benefits of Combination Analysis Cont’d (As of June 30, 2009) Notes: (1) 1st Half 2009 Annualized and excludes impact of purchase accounting. AerCap Interest Expense excludes the impact of mark-to-market of interest rate caps (2) % of Total Revenue (3) 1st Half 2009 and based on an average of net
Slide 9: Earnings Per Share Analysis
9 Earnings Per Share Analysis Essentially represents leasing EPS Analysts Consensus 2010 EPS from Reuters 1.45 1.68 Combined 0.77 0.77 Genesis 1.73 2.05 AerCap Excluding Gain from Sales Total 1.75 Combined Company Leasing EPS 0.12 Expected EPS Benefit from Purchase Accounting (Lower Depreciation, et
Slide 10: Next Steps and Transaction Timeline
10 Next Steps and Transaction Timeline Proxy Statement / Prospectus Shareholder Vote Regulatory Approvals Operating Procedures Closing As soon as practical, AerCap will file a registration statement which will constitute the Proxy Statement for Genesis shareholders and the Prospectus for the issuanc
Slide 11: Creating Value for Shareholders
11 Creating Value for Shareholders Transaction Creates the Leading Independent Aircraft Lessor Combines Significant Unrestricted Cash with Contracted, Placed, and Funded Growth EPS Accretive to Genesis Shareholders; Improves Quality of AerCap’s Earnings with No Dilution to Leasing EPS Allows for Sig
Slide 12: This presentation may contain certain statements, estimates and forecasts with respect to future performance
12 This presentation may contain certain statements, estimates and forecasts with respect to future performance and events. These statements, estimates and forecasts are intended to be covered by the safe harbor for “forward-looking statements” provided by the US Private Securities Litigation Reform
Slide 13: In connection with the proposed transaction, AerCap will file with the SEC a Registration
13 In connection with the proposed transaction, AerCap will file with the SEC a Registration Statement on Form F-4 that will include a proxy statement of Genesis and a prospectus of AerCap. Genesis will mail the proxy statement/prospectus to its shareholders. Genesis investors are urged to read the
Slide 14: Non-GAAP Financial Information
14 Discussions during this conference call will include certain financial measures that were not prepared in accordance with U.S. generally accepted accounting principles. Reconciliations of those non-U.S. GAAP financial measures to the most directly comparable U.S. GAAP financial measures can be fo
AerCap Holdings — Merger or Acquisition (September 2009) on 6ix