Amsterdam, Netherlands; November 10, 2015

- Adjusted net income was:

- $328.0 million for the third quarter of 2015

(reported net income of $293.9 million)

- $993.7 million for the nine months ended September 30, 2015

(reported net income of $914.5 million)

- Adjusted basic earnings per share were:

- $1.66 for the third quarter of 2015

(reported basic earnings per share of $1.49)

- $4.82 for the nine months ended September 30, 2015

(reported basic earnings per share of $4.44)

Highlights

- 306 aircraft transactions, including 86 widebody aircraft, executed in the nine month period ended September 30, 2015.

- 99.7% fleet utilization rate for the third quarter of 2015 and 5.9 years average remaining contracted lease term as of September 30, 2015.

- Commitments to purchase 458 aircraft, as of September 30, 2015, with scheduled delivery dates through 2022. Approximately 80% of aircraft purchases delivering through December 2018 are leased under a lease contract or letter of intent on an average 12-year lease term.

- Completed the sale of a $0.6 billion ten-aircraft portfolio which included eight widebody aircraft.

- $6.4 billion of available liquidity as of September 30, 2015.

- In October 2015, we completed the offering of $1.0 billion senior unsecured notes due 2020 which was upsized from initial launch size of $0.4 billion.

Aengus Kelly, CEO of AerCap, commented: "We are delighted to be reporting industry leading earnings in a sector with very resilient fundamentals. AerCap’s strong growth profile, as well as the efficiency of our platform, have contributed to adjusted basic earnings per share of $4.82 for the nine months ended September 30, 2015, already exceeding the full year guidance of $4.00 announced during the ILFC acquisition.

Demand for the most modern and fuel efficient narrowbody aircraft remains strong and we continue to see stable values and demand for widebody aircraft types. Approximately 80% of our orderbook through December 2018 has already been placed and we continue to see the growing demand for operating leases globally."

Third Quarter 2015 Financial Results

- Adjusted net income of $328.0 million, compared with $294.0 million for the same period in 2014. Adjusted basic earnings per share of $1.66, compared with $1.39 for the same period in 2014. Increases in adjusted net income and earnings per share over the third quarter of 2014 were driven primarily by gain on sale of assets partially offset by lower earnings from investments accounted for under the equity method. The gain in earnings per share was also driven by lower outstanding shares as a result of share repurchases completed in the second quarter of 2015.

- Reported net income of $293.9 million, compared with $333.8 million for the same period in 2014. Reported basic earnings per share of $1.49, compared with $1.57 for the same period in 2014. Decreases in reported net income and earnings per share over the third quarter of 2014 were driven primarily by lower than average maintenance rights related expenses during 2014.

- Debt/equity ratio of 3.1 to 1 as of September 30, 2015 compared to 3.5 to 1 as of September 30, 2014, reflecting our commitment to deleveraging post the ILFC Transaction.

Net Income/Earnings Per Share

Set forth below are the details to reconcile reported net income to adjusted net income, including the specific adjustments.

Third quarter 2015 adjusted net income increased 12% over the same period in 2014 and third quarter 2015 adjusted earnings per share increased 20% over the same period in 2014. The increases were driven primarily by gain on sale of assets and, in the case of earnings per share, lower outstanding shares as a result of share repurchases completed in the second quarter of 2015. Third quarter 2015 reported net income and reported earnings per share were impacted by the same drivers in addition to the adjustments in the table above.

Adjusted net income reflects, among other items, expensing the maintenance rights asset over the remaining economic life of the aircraft as compared to expensing this asset during the remaining lease term as reflected in reported net income. The maintenance rights asset represents the difference between the actual physical condition of the former ILFC aircraft at the acquisition date and the value based on the contractual return conditions in the lease contracts. We believe adjusted net income may further assist investors in their understanding of our operational and financial performance. The difference in the two methods has no economic impact as it is non-cash and equalizes over time. Refer to Notes Regarding Financial Information Presented in This Press Release for details relating to the adjustments.

Revenue and Net Spread

Basic lease rents were $1,164.6 million for the third quarter of 2015, compared with $1,172.3 million for the same period in 2014. The decrease was driven primarily by the extension of leases prior to their contracted redelivery dates. The accounting for extensions requires the remaining rental payments to be recorded on a straight-line basis over the remaining months of the original lease plus the extension period. This results in a decrease in basic lease rents during the remaining months of the original lease which will be offset by an increase in basic lease rents during the extension period. Our average lease assets for the third quarter of 2015 were $36.4 billion, compared with $35.8 billion for the same period in 2014.

Net gain on sale of assets for the third quarter of 2015 was $51.6 million, relating to 12 aircraft, compared with a net gain of $2.8 million, relating to six older aircraft, for the same period in 2014. During the third quarter of 2015, we also parted-out one aircraft and reclassified one aircraft to a finance lease, which had no impact on net gain on sale of assets.

Other income for the third quarter of 2015 was $25.5 million, compared with $26.1 million for the same period in 2014.

As shown in the table above, adjusted interest expense was $272.3 million in the third quarter of 2015, a 3% increase compared with the same period in 2014. Net spread was $892.3 million in the third quarter of 2015, a 2% decrease compared with the same period in 2014.

Selling, General and Administrative Expenses

The decrease in selling, general, and administrative expenses, period over period, reflects realized synergies after the ILFC Transaction.

Effective Tax Rate

AerCap’s blended effective tax rate during the third quarter of 2015 was 13.5%. The blended effective tax rate for the year ended December 31, 2014 was 15.0%. The decrease in our effective tax rate is driven primarily by the transfer of aircraft and substantial business operations from the United States to Ireland. The blended effective tax rate in any year is impacted by the source and amount of earnings among AerCap’s different tax jurisdictions.

Financial Position

As of September 30, 2015, AerCap’s portfolio consisted of 1,725 aircraft that were owned, on order, under contract or managed (including aircraft owned by AerDragon, a non-consolidated joint venture). The average age of the owned fleet as of September 30, 2015 was 7.7 years and the average remaining contracted lease term was 5.9 years.