AerCap and Deucalion Joint Venture Executes a Purchase-Leaseback of Nineteen Boeing Aircraft, Including Eleven Next Generation Boeing 737-800 Aircraft With TUI Travel PLC

    AMSTERDAM, The Netherlands, June 23 /CNW/ -- AerCap Holdings N.V.
("AerCap," NYSE:   AER) today announced that, in a joint venture with the
Deucalion Aviation Funds, (advised and managed by DVB Bank AG), it has signed
an agreement with TUI Travel PLC ("TUI Travel"), a FTSE 100 company, for the
acquisition of a 19-aircraft portfolio, including 11 Next Generation Boeing
737-800 aircraft.  Calyon, Deutsche Bank AG, HSH Nordbank AG, and KfW
IPEX-Bank GmbH have underwritten secured debt in respect of these aircraft.
    After the closing of the purchase from TUI Travel, AerCap will have
expanded its fleet of Next Generation Boeing 737 aircraft to 18 over the last
two years, thereby significantly increasing the number of modern,
fuel-efficient aircraft in its fleet.
    The aircraft will be acquired through a 50/50 joint venture with
Deucalion and will be managed by AerCap. The joint venture will pay AerCap
servicing fees for the management of the aircraft.  Coincident with the
acquisition, the joint venture will lease the aircraft back to their current
operators, which are all airline subsidiaries of TUI Travel (HapagFly,
Thomsonfly, TUI Fly Nordic, and Jet4You).  All of the leases are guaranteed by
TUI Travel PLC.
    In addition to the eleven Boeing 737-800s, the 19-aircraft portfolio
consists of six Boeing 757-200s and two Boeing 767-300ER aircraft.
    "With this major acquisition of Boeing 737-800 aircraft, AerCap has
strengthened its portfolio and continued to optimize its fleet with young,
fuel-efficient equipment which remain in strong demand in the current high
fuel price environment. In addition AerCap is very pleased to welcome TUI
Travel, a leading international leisure travel group, to our global customer
base," said Klaus Heinemann, Chief Executive Officer of AerCap.
    "We arranged the debt financing for the TUI Travel transaction outside
our already available lines of credit and we are very pleased to have sourced
equity for the transaction with a strong partner like DVB Bank," said Keith
Helming, Chief Financial Officer of AerCap.
    About AerCap
    AerCap is an integrated global aviation company with a leading market
position in aircraft and engine leasing, trading and parts sales. AerCap also
provides aircraft management services and performs aircraft and engine
maintenance, repair and overhaul services and aircraft disassemblies. AerCap
has a fleet of 320 aircraft and 71 commercial engines that were either owned,
on order, under contract or letter of intent, or managed. AerCap is
headquartered in The Netherlands and has offices in Ireland, the United
States, Singapore, China and the United Kingdom.
    About DVB Bank/Deucalion
    The Deucalion Aviation Funds consist of a series of actively managed
funds which act as investment vehicles through which private and institutional
investors together invest in aviation equity investments in aircraft and
engines, airlines and aviation related assets.  The funds are advised and
managed by DVB Bank.
    DVB Bank AG, based in Frankfurt/Main, is an international advisory bank
and finance house that specialises in the global transport market. DVB offers
integrated financing solutions and advisory services in respect of Shipping,
Aviation, and Land Transport. The Bank operates out of offices in
Frankfurt/Main, Bergen/Oslo, Cardiff, Curacao, Hamburg, Hong Kong, London, New
York, Piraeus, Rotterdam, Singapore, Tokyo, and Zurich. DVB Bank AG is listed
on the Frankfurt Stock Exchange (ISIN: DE0008045501).
    About TUI Travel PLC
    TUI Travel PLC is a leading international leisure travel group, which
operates in approximately 180 countries worldwide and serves more than 30
million customers in over 20 source markets. Headquartered in Crawley, near
Gatwick airport in the UK, the Group employs approximately 48,000 people and
for the year ended 30 September 2007 generated proforma turnover and
underlying operating profits of 12.8 billion pounds Sterling and 287 million
pounds, respectively.  The company mainly serves the leisure travel consumer
and is organised and managed through four business Sectors: Mainstream,
Specialist & Emerging Markets, Activity and Online Destination 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                    Peter Wortel
    Tel. +31 20 655 9616                Tel. +31 20 655 9658     

For further information:

For further information: Media: Frauke Oberdieck, +31-20-655-9616,; Investors: Peter Wortel, +31-20-655-9658,, both for AerCap Holdings N.V.

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