AerCap Holdings N.V. (AER) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 17, 2022 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and welcome to AerCap's First Quarter 2022 Financial Results. Today's conference is being recorded and a transcript will be available following the call on the company's website.

At this time, I would like to turn the conference over to Joseph McGinley, Head of Investor Relations. Please go ahead, sir.

Joseph Mcginley

Thank you, operator, and hello everyone. Welcome to our first quarter 2022 conference call. With me today is our Chief Executive Officer, Aengus Kelly; and our Chief Financial Officer, Pete Juhas.

Before we begin today's call, I would like to remind you that some statements made during this conference call, which are not historical facts, may be forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied in such statements. AerCap undertakes no obligation other than that imposed by law to publicly update or revise any forward-looking statements to reflect future events, information, or circumstances that arise after this call. Further information concerning issues that could materially affect performance can be found in AerCap's earnings release, dated May 17, 2022. A copy of the earnings release and conference call presentation are available on our website at aercap.com.

This call is open to the public and is being webcast simultaneously at aercap.com and will be archived for replay. We will shortly run through our earnings presentation and we'll allow time at the end for Q&A.

I will now turn the call over to Aengus Kelly.

Aengus Kelly

Good morning, everyone, and thank you for joining us for our first quarter 2022 earnings call.

First, for the impact of Russia, this was a strong underlying quarter for the company, and I'm pleased to report $2.23 of adjusted earnings for the period. Across all our business lines; aircraft, engines, cargo and helicopters, we are seeing improving demand, increased utilization of our assets and the improving financial health of our customers. There has been a strong rebound in traffic on a global scale, as an ever-increasing number of countries removed the last of the COVID-related travel restrictions and welcome foreign travelers once again.

The favorable environment created by these various dynamics, coupled with the proven resilience of the AerCap business model sets us up for a strong year ahead. There are a number of key points, which I'd like to expand on today.