Ashleigh Rogers
Long/short equity, growth at reasonable price, value, banks

Previously Mediocre AerCap Holdings Just Became An Outstanding Investment

AerCap Holdings (NYSE:AER) is in a pretty unusual niche in the financial world. The Netherlands based company is a global lessor of aircraft. Basically the company owns aircraft and then leases them out to commercial airlines, freight companies, etc. In this role the company competes with financial institutions, aircraft brokers, aircraft manufacturers, and others. Yet at the end of the day, the leasing portion of the business, which is AER's specialty, is at its core a financial business. AER buys the planes at some fixed price, and then leases them out to other companies at some rate giving AER a (relatively) fixed rate on their investment. The less AER can buy the planes for and the more they...

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