AerCap achieved a net income of $3.8 billion in 2025. While increasing its dividend, the company announced strong cash flow and positive expectations for 2026.
AerCap Holdings NV (NYSE: AER), one of the global leaders in the aviation leasing sector, announced its financial results for the fourth quarter and full year of 2025. The company closed 2025 with record net income, strong cash flow, and increased capital returns to shareholders.
Record revenue and strong cash flow in 2025
According to AerCap’s statement, the company recorded a net income of $633 million in the fourth quarter of 2025, with earnings per share at $3.79. For the full year, net income reached $3.8 billion with earnings per share of $21.30.
According to adjusted figures, fourth-quarter net income was $660 million with earnings per share of $3.95, while adjusted net income for the full year 2025 was $2.7 billion with earnings per share of $15.37.
The company’s cash flow generated from operations throughout 2025 reached $5.4 billion.
Dividend increase and share buyback
Following its strong financial performance, AerCap’s Board of Directors increased the quarterly dividend to $0.40 per share. The dividend will be paid on March 19, 2026, to shareholders of record as of February 25, 2026.
The company also returned a total of $2.6 billion to shareholders in 2025 through share buybacks and dividend payments. A total of 22.1 million shares were repurchased at an average price of $109.92.
CEO Kelly: “2025 was a year full of records for AerCap”
AerCap CEO Aengus Kelly made the following statements regarding the results:
“We are pleased to complete a year marked by record net income and earnings per share. All our business lines delivered strong performance. During the year, we executed $3.9 billion in asset sales, achieved a record $819 million gain on sales, and reinvested in our core business with $5.4 billion in new investments.”
Kelly emphasized that the new $1 billion share buyback program announced in December and the dividend increase are part of the company’s long-term value creation strategy.
Fleet growth and strong order book
AerCap added 103 new aircraft (including options) to its order book throughout 2025. As of December 31, 2025, the company’s portfolio consisted of a total of 3,500 aircraft, engines, and helicopters owned, managed, or on order.
The average age of the company’s passenger aircraft fleet was announced as 7.3 years, with an average remaining lease term of 7.1 years.
Compensation related to the Ukraine conflict
In connection with the Ukraine conflict, AerCap collected $1.5 billion in insurance and other compensation during 2025. Thus, the total compensation received since 2023 reached approximately $3 billion.
Positive outlook for 2026
The company announced an adjusted earnings per share expectation for 2026 in the range of $12.00–$13.00. AerCap aims to continue evaluating new investment opportunities with its strong capital structure and decreasing debt-to-equity ratio.
