AerCap Holdings N.V. (AER)

AYR is a well managed aircraft leasing company that is undervalued. It also leases aircraft engines.

Very low valuation in a business (aviation leasing) that will inevitably grow in the long term. Price suppressed due to fears of airline failures and fuel cost/ supply concerns

Good Forward Earnings Estimate

Used the tepid market to buy rival Genesis on the cheap. As companies like GE are doing everything they can to shed these units, AER is buying at a discount. I like the valuation better than AYR. I like the leasor sector as many corporations can not justify the purchase of aircraft in this economy but still need to utilize them, which make leasing a necessary evil. The move will increase the size of AER's fleet by 54 planes. This is a Buffetian-like pick and I started a small position at 8.70 this am.

http://stonefoxcapital.blogspot.com/2009/09/merger-of-genesis-lease-and-aercap.html

AerCap "puchased" Genesis Lease Limited today in a stock swap deal. Most holders of Genesis were disappointed as the stock swap appears to undervalue Genesis, certainly on paper. Both are airline leasing companies based in Ireland. The key is that you can't value airplanes in this recession. Several other large companies, RBS, C, AIG etc are reportedly about to shed some of aviation groups. The book values of AER and GLS actually made the even stock swap a fairly equitable merger. Leaving cash that AER had hoarded for possible expansion. The synergy of the two should help with overhead, borrowing, and contracts. The negative is that GLS was definitely "more undervalued" and paid a decent dividend where AER pays none. Even in a recession AER has been expanding while GLS has been keeping things on the conservative side. AER stats, though not as good as GLS in my opinion give me sufficient reason to shift my CAPs call to AER. Strong margins, below book, good P/E, debt load is high, (especially with GLS's added on), but as expected in this business. High Lease rate on planes. Newer planes are sought for fuel savings, and by airlines that aren't ready to buy themselves. Customers are spread out and international. Thumbs up.

low valuation; biggest beneficiary along with the recovery of global airline market

Selling for 0.6 times book value. If this aircraft leasing company survives, its' stock price will likely double.

Low relative PE, good star ranking, PEG & 09 PE still below normal - bottom fishing - 8/3 picks

low peg ratio

Future has gone for disaster to explosive.

Come fly with me come fly let's fly away.

PEG 0.16, Price to book 0.34; too much debt, but I'm betting they can manage it. Risk-reward play.

sold some shares on 9-18-08

Aircraft leasing tag seems to go down.

Price way to depressed for the fundementals of this company. Oil prices have scared of investors from this company. Well divirsefied and good managment. Looking for a nice pop. Would buy more if price keeps going down.

One of my guys over at A.G. Edwards filled me in on this wonderful little company.

32% fall in civilian aircraft exports

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