Report
Expert Corporate Governance Service (ECGS)
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Etude de l'AG du 05/05/2017

Under agenda item 6, it is proposed to grant discharge to the Board of Directors of Aercap. Given the lack of transparency of the remuneration report, which is not a separate voting item, we reflect our concerns over the remuneration at Aercap under this agenda item.

Under agenda item 10b and 10d, the board requests authorisation to restrict or exclude the pre-emptive rights allowed to shareholders when issuing new shares. The requested authorisation is 10%+10% of the share capital, and this exceeds our guidelines, which stipulate a maximum of 10% of the share capital. Therefore we recommend to OPPOSE.

Under agenda items 11a, 11b and 12 it is proposed to authorise the Board of Directors to repurchase and cancel shares. Given the absence of a dividend payment, we recommend shareholders OPPOSE these agenda items.

Underlying
AerCap Holdings NV

Aercap Holdings is an integrated global aviation company engaged in aircraft leasing. Co. acquires aviation assets at attractive prices, lease the assets to suitable lessees, and manage the funding and other lease related costs efficiently. Co. also provides aircraft management services. Co. operates its business on a global basis, providing aircraft to customers in every major geographical region. As of Dec 31 2017, Co. owned 980 aircraft and managed 113 aircraft.

Provider
Proxinvest
Proxinvest

Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

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As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide. 

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Expert Corporate Governance Service (ECGS)

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