AerCap's decision to buy International Lease Finance Corp. (ILFC) was based on whether the benefit of netting hundreds of prime delivery slots for the most popular aircraft (and several hundred more already on lease) would outweigh taking on many older airframes and a big chunk of debt. The answer was a resounding "yes." "We saw an opportunity in the market that will probably never be there again, right at the time where the industry cycle is turning," AerCap CEO Aengus Kelly says, citing ILFC's orderbook as the deal-maker. "If you go to the [manufacturers] today, it will be on average a decade later before you get this stuff. It's the jewel in the crown of the whole transaction."
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