Former Shannon Worker Secures Top Job At AerCap

Business & Finance - Industry

Friday, 08 October 2010 09:48

Written by Noel Cotter

A former employee of Shannon based Guinness Peat Aviation (GPA) is take up the Chief Executive’s position at one of the world’s largest aviation companies.

AerCap Holdings NV (AER) said Chief Executive Klaus Heinemann will retire next year and likely will be succeeded by Aengus Kelly, head of the company's operations in the Americas.

The move follows the Dutch plane-leasing company's $1.76 billion purchase of Shannon-based Genesis Lease Ltd. earlier this year and comes as the sector is upgrading fleets in anticipation of a recovery in demand after suffering during the downturn.

Mr. Kelly served as AerCap’s Group Treasurer from 2005 to December 31, 2007. He has been Chief Executive Officer of the firm’s US operations since January 2008.

He started his career in the aviation leasing and financing business with Guinness Peat Aviation in 1998 and has continued working with its successors AerFi in Ireland and debis AirFinance and AerCap in Amsterdam. Prior to joining GPA in 1998, he spent three years with KPMG in Dublin. Mr. Kelly is a Chartered Accountant and holds a Bachelor's degree in Commerce and a Master's degree in Accounting and Finance from University College Dublin.

AerCap's board will propose appointing Kelly a director and CEO at the company's annual meeting, scheduled to take place in May.