AMSTERDAM, November 30, 2012 -Â AerCap Holdings N.V. (AerCap) today announced it
has settled its lawsuit against GE Capital Corporation and GE Capital Aviation
Services (GECAS) and withdrawn with prejudice the complaint filed in New York
State Court in February 2012 concerning servicing agreements relating to
aircraft leases with Transbrasil S/A Lineas Areas, a now-defunct Brazilian
airline.
Although the details of the settlement agreement are confidential, information
exchanged since the initiation of AerCap's lawsuit has satisfied AerCap that
GECAS did not commit fraud and otherwise has a reasonable basis for the position
that it did not breach the standard of care owed under the servicing agreements.
GECAS was the servicer of aircraft owned by AerCap and leased to Transbrasil.
The GECAS servicing relationship with AerCap ended in 2001.
About AerCap
AerCap is a New York Stock Exchange-listed aircraft leasing company (AER) and
has one of the youngest fleets in the industry leased to 100 airlines in 50
countries. AerCap has $10 billion of assets and a fleet of 337 aircraft. The
company is headquartered in the Netherlands and has offices in Ireland, the
United States, China, Singapore and the United Arab Emirates.
This press release may contain forward-looking statements that involve risks and
uncertainties. In most cases, you can identify forward-looking statements by
terminology such as "may", "should", "expects", "plans", "anticipates",
"believes", "estimates", "predicts", "potential" or "continue" or the negative
of such terms or similar terminology. Such forward-looking statements are not
guarantees of future performance and involve significant assumptions, risks and
uncertainties, and actual results may differ materially from those in the
forward-looking statements.
For Media: For Investors:
Frauke Oberdieck, AerCap Peter Wortel, AerCap
Tel. +31 20 655 9616 Tel. +31 20 655 9658
foberdieck@aercap.com pwortel@aercap.com
AerCap Press Release GECAS Transbrasil Nov 2012:
http://hugin.info/149317/R/1661752/538440.pdf
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Source: AerCap Holdings N.V. via Thomson Reuters ONE
[HUG#1661752]
