On Tuesday, AerCap Holdings N.V. (NYSE:AER), the global leader in aviation leasing, announced the delivery of the first of eight new Airbus A321neo aircraft to LATAM Airlines (OTC:LTMAY) Group S.A. The remaining seven aircraft are scheduled for delivery throughout 2023 and 2024. AerCap, with a market cap of $13.78 billion and a P/E ratio of 7.62, has been a significant player in the aviation leasing industry, according to InvestingPro data.
The inaugural Airbus A321neo took off from the Airbus Delivery Center in Hamburg, Germany, heading to Brazil. Notably, the journey utilized 49% Sustainable Aviation Fuel (SAF), underscoring both companies' commitment to environmental sustainability. This aligns with AerCap's impressive gross profit margins and its net income growth expected this year, as highlighted by InvestingPro Tips.
Peter Anderson, the Chief Commercial Officer of AerCap, expressed satisfaction at delivering the first A321neo aircraft to their longstanding customer, LATAM Airlines Group. He emphasized that this delivery is part of a series that will support LATAM's fleet modernization and commitment to greater efficiency and sustainability. It's worth noting that AerCap has a perfect Piotroski Score of 9, demonstrating strong financial health, and the management has been aggressively buying back shares, as noted by InvestingPro Tips.
Ramiro Alfonsín, CFO of LATAM Airlines Group, affirmed that their fleet renewal and modernization strategy aligns with their commitment to sustainability. This move brings them closer to their goal of becoming a carbon-neutral group by 2050. Alfonsín stated that they will continue to enhance their current fleet with next-generation aircraft to improve connectivity while caring for the environment. LATAM, despite its recent struggles, has seen a large price uptick over the last six months, and analysts predict it will be profitable this year, according to InvestingPro Tips.
AerCap is recognized as a global leader in aviation leasing and serves approximately 300 customers worldwide with comprehensive fleet solutions. The company is listed on the New York Stock Exchange and is headquartered in Dublin, with offices in various locations globally. Over the last year, AerCap's stock has returned 34.32%, according to InvestingPro Data.
LATAM Airlines Group S.A., along with its subsidiaries, is the leading airline group in Latin America. The group operates in five domestic markets in the region: Brazil, Chile, Colombia, Ecuador, and Peru. It also runs international operations within Latin America and to Europe, Oceania, the United States, and the Caribbean. The group's diverse fleet includes Boeing (NYSE:BA) 767, 777, 787, Airbus A321, A320, A320neo, and A319 aircraft. Despite a significant fall in price over the last year, LATAM remains a prominent player in the Passenger Airlines industry, as noted by InvestingPro Tips.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.