AerCap Leases, Buys and Sells 204 Assets in Q3, Buys Back $783 Million

AerCap, the Dublin-based aircraft lessor, said on 5 October that it leased, purchased or sold 204 assets in the third quarter of 2026, giving the market an early read on the leasing cycle ahead of its full earnings release.

The summary covers the quarter that ended on 30 September and shows a business that is recycling capital: buying new-technology aircraft, selling older ones and returning cash to shareholders.

Leases, purchases and sales

AerCap signed 85 lease agreements, covering 16 widebody aircraft, 45 narrowbody aircraft, 13 engines and 11 helicopters. Narrowbodies dominate the count, as they do across the leasing market, with widebody placements making up the smaller group.

The company completed 34 purchase transactions, covering 32 aircraft and two helicopters. The aircraft were eight Airbus A320neos, 20 Boeing 737 MAX, two Boeing 787-9s and two Embraer E195-E2s. The 737 MAX accounts for the largest block, and the two E195-E2s show the lessor’s continued interest in regional jets.

On the sales side, AerCap completed 85 sale transactions, involving 65 aircraft, 13 engines and seven helicopters from its owned and managed portfolios. Selling roughly twice as many aircraft as it bought is consistent with a lessor pruning its portfolio while reinvesting in newer types.

Financing and capital return

The company signed financing of about $900 million during the quarter and repurchased 5.3 million of its shares at an average price of $147.12, for a total of $783 million. It also declared a quarterly dividend of $0.40 per share on its ordinary shares.

A $783 million repurchase is a substantial deployment of cash in a single quarter, and it shows AerCap continuing to prioritise returning capital alongside fleet investment.

The order book context

AerCap has also been building forward commitments. On 18 March it placed a firm order with Airbus for 100 additional A320neo Family aircraft, made up of 23 A320neos and 77 A321neos. Airbus described it as the largest single direct order for the type that AerCap has ever placed with the manufacturer, and AerCap chief executive Aengus Kelly cited the company’s belief in long-term demand for the aircraft.

Lessors with long-dated order books are well placed in a market where airlines face long waits for new aircraft. At the same time, manufacturer delivery delays, such as the A330 pause Airbus reported earlier this year, mean lessors must plan for delivery slots that move.

What comes next

The trading update gives only unit counts and capital actions, not earnings, yield or fleet value. AerCap serves around 300 customers worldwide and is listed on the New York Stock Exchange under the ticker AER. Investors will look to its full third-quarter results for lease rates, gains on sale and any change in guidance for the year.