AER/AL Earnings Takeaways（+DUBAEEAVOLGALCLD）Downgrading AER Credit to N From OW（Equity Remains OW）

North America Equity Research 02 August 2024 J P M O R G A N AER / AL Earnings Takeaways (+DUBAEE/AVOL/GALCLD) Downgrading AER Credit to N From OW (Equity Remains OW) More of the same for lessors reporting yesterday and today – OEM delays (both airframes and engines) amid strong global demand (at least for replacement aircraft) are creating covetable positions for the leasing community who are reextending leases (in the case of AER, it remains >80%) at attractive rates. But it appears equity investor patien ...