AerCap and Safran sign joint venture agreement for Shannon engine support


DUBLIN, November 2, 2021 / PRNewswire / – AerCap Holdings NV (“AerCap”) (NYSE: AER) has announced that following its acquisition of the GE Capital Aviation Services (“GECAS”) business, it has signed a joint agreement- 20-year venture with Safran Aircraft Engines (“Safran”) concerning Shannon Engine Support (“SES”). SES, the leading supplier of spare engines for CFM International, is now a 50/50 joint venture between AerCap and Safran.

SES, the world’s largest rental company of CFM56 and LEAP engines, will continue to provide engine rental support to CFM and CFM operators.

AerCap CEO Aengus Kelly said: “The SES business fits perfectly into the AerCap portfolio, with similar expertise, common assets and a customer base complementary to our wholly owned engine rental business. This partnership extends our long-standing relationship with Safran, one of the largest aviation companies in the world. We look forward to working with the Safran team to ensure the continued success of SES.

Jean-Paul Alary, CEO of Safran Aircraft Engines, declared: “The SES joint venture with AerCap is a key asset to support our CFM operators, especially since the CFM56 and LEAP engines continue to be very successful on the market. Marlet. Having AerCap, the world’s largest aircraft rental company, as a strategic partner adds significantly to our customer offering. ”

About AerCap

AerCap is the world leader in aircraft leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers worldwide with complete fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Los Angeles, Singapore, Amsterdam, Shanghai, Abu Dhabi, Seattle, Toulouse and other places in the world.


Safran is an international high-tech group, present in the aeronautics (propulsion, equipment and interior), defense and space markets. Its main objective is to contribute to a safer and more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran is present worldwide, with 76,000 employees and sales of 16.5 billion euros in 2020 and holds, alone or in partnership, world or regional leadership positions in its main markets. Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.

Safran aircraft engines designs, produces, sells, alone or in partnership, commercial and military aircraft engines offering world-class performance, reliability and environmental friendliness. Through CFM International *, Safran Aircraft Engines is the world’s leading supplier of engines for short and medium-range commercial jets.

* CFM is a 50/50 joint company between Safran Aircraft Engines and GE

About SES

Shannon Engine Support is the world’s largest rental company of CFM56 and LEAP engines, with the largest strategically located portfolio in the world. With over 30 years of experience and a wealth of technical expertise, SES offers airlines the assurance of helping them find the right solution for their needs. Based in Shannon, Ireland, with marketing offices in Beijing, China and Budapest, Hungary, SES has a portfolio of over 350 CFM56 and LEAP replacement engines, including the CFM56-5B, CFM56-7B, LEAP-1A and LEAP-1B engines.

Forward-looking statements

This press release contains certain statements, estimates and forecasts concerning future performance and events. These statements, estimates and forecasts are “forward-looking statements”. In certain cases, forward-looking statements may be identified by the use of forward-looking terminology such as “may”, “could”, “should”, “expect”, “plan”, “intend” , “Estimate”, “” anticipate “,” believe “,” predict “,” potential “or” continue “or their negative aspects or variations 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 regarding future events, including impacts and responses s associated with: the Covid-19 pandemic; our ability to successfully integrate GECAS operations and employees and achieve expected synergies and cost savings; and the potential impact of the completion of the proposed GECAS transaction on relationships, including with employees, suppliers, customers and competitors. There are significant 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. . Therefore, we cannot assure you that any forward-looking statements included in this press release will prove to be correct or correct. In light of these risks, uncertainties and assumptions, the performance or future events described in the forward-looking statements in this press release may not occur. Therefore, you should not rely on forward-looking statements as a prediction of actual results and we assume no responsibility for the accuracy or completeness of such forward-looking statements. Except as required by applicable law, we assume no obligation to update and will not update any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE AerCap Holdings NV

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