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SINGLE PARENT COMPANY
01 October 2005
AerCap, the lessor formerly known as debis Airfinance, is an example of how important the owners of a leasing company are. Its original owners started with high expectations and then lost their nerve. Cerberus Capital, its new owner, wants to change this.
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Airfinance
Airbus
Klaus Heinemann
Aercap
Aircraft value
Aviation
Klaus Heinemann, the CEO of AerCap, is enjoying the simplicity that comes with having to deal with just one owner. After years of having to balance the interests of debis Airfinance's five different, and often unhappy, shareholders. He now only has to keep Cerberus, a US investment firm, happy. The new name shows the change in ownership.
Growing debis Airfinance was the subject where they disagreed most. Like many lessors the lessor's shareholders - Daimler Chrysler (45%), Bayern LB, Dresdner Bank, DZ Bank and HypoVereinsbank - were enthusiastic at first.
In 1998 the lessor placed its first new aircraft order taking two A320 family aircraft from Airbus. It placed these quickly and in June 1999 ordered a further 30 A320 family aircraft. In 2000 it acquired 15 aircraft from Airbus Industrie Financial Services, comprising of two A340s, three A330s, eight A320s, and two A300-600Rs, bringing its total portfolio to 100 aircraft.
In...
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