AerCap Announces Completion of Management Transition at its AeroTurbine Subsidiary

    AMSTERDAM, Netherlands and MIAMI, July 16 /EMWNews-FirstCall/ --

AerCap Holdings N.V. ("AerCap," NYSE: AER) announced that it has

successfully completed its planned management transition at its AeroTurbine

subsidiary. Effective August 15, 2008, founders Nicolas Finazzo, CEO and

Robert B. Nichols, COO, will be leaving their positions at the company. Mr.

Finazzo will remain affiliated as a consultant to the Board of parent

AerCap.



    Michael King, 41, who is currently AeroTurbine's President, is being

promoted into the CEO role, a transition that has been planned since he

joined AeroTurbine in June 2006. Mr. King has over 15 years of aviation

experience, having previously served as Group Vice President of Sales &

Marketing at Chicago-based AAR Corp., and more recently as Senior Vice

President-Materials at AeroTurbine. "Michael King is most qualified to

serve as CEO of AeroTurbine, Inc.," said Klaus Heinemann, Chief Executive

Officer of AerCap. "His strong aviation background, combined with his

thorough understanding of the fundamentals of our business, ensures that

this company will have strong leadership in the years ahead."



    "We are proud to have been a part of one of the most dynamic aircraft

engine leasing, trading and parts businesses in the industry. With the

enlarged management team lead by Michael King, AeroTurbine is particularly

well positioned to take advantage of opportunities in the aviation

marketplace at this time," said Mr. Finazzo and Mr. Nichols.



    As part of this transition plan AerCap recently made two further

appointments to AerCap, Inc., its U.S. subsidiary company managing all

operations in the Americas. Aengus ("Gus") Kelly, who has been with AerCap

since 1998 and has held a number of senior management positions at the

Company, was appointed CEO of AerCap, Inc. in November 2007 and Ray Valeika

joined the Board of Directors of AerCap, Inc. effective January 1, 2008.

Ray Valeika is an internationally recognized senior airline operations

executive, with over 40 years experience managing large airline maintenance

operations. Mr. Valeika recently retired from the position of Senior Vice

President - Technical Operations at Delta Airlines, where he was credited

with establishing Delta Tech Ops, one of the industries leading MRO service

providers, and directing a worldwide maintenance and engineering staff of

more than 10,000 professionals, responsible for maintaining a fleet of

close to 600 aircraft.



    "Ray Valeika's experience over the course of his career with Delta,

Continental and Pan Am brings a new dimension of industry insight and

knowledge to the AerCap, Inc. Board. Together with the appointment of Gus

Kelly as CEO of our operations in the Americas, this ensures that AerCap

has a first rate management team in the Americas to face the challenges and

to take advantage of opportunities that in particular the U.S. market

represents at this time," said Klaus Heinemann, Chief Executive Officer of

AerCap.

    About AerCap and AeroTurbine



    AerCap is an integrated global aviation company with a leading market

position in aircraft and engine leasing, trading and parts sales.

AeroTurbine is a subsidiary of AerCap focusing on engine leasing and

trading, airframe and engine disassembly, part sales and MRO services.



    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

     [email protected]         [email protected]