Thread by @AndrewRangeley

Never looked at $AER before, but $KKR's investment in Altavair (a competitor) has me interested. Here's some running highlights from AER's 2017 investor day.

ir.kkr.com/news-releases/…

$AER on the advantage of scale

By selling old planes, $AER gets increases their exposure to newer / more valuable planes. In addition, they sell the old planes at a premium and can use proceeds to buy back stock (which now has more new planes) at a discount

$AER on the growth tailwinds driving their business

A bit more on $AER's tailwinds

The $AER Advantage: Vision, Reach, and Scale

$AER on visibility into their own business / their own investment case (remember, this is from late 2017, so they are saying they have 99% revenue visibility into next year)

$AER strategy- control the 4 things that they can control: Leasing (make sure customers pay; have a strategy for when they don't), portfolio (have assets customers want), cap structure (set up robust cap structure in good times to take advantage in bad), hedging (interest rates)

$AER on portfolio management strategy: "scoreboard, bro"

$AER on their history of selling aircraft / why they sell

$AER on airlines history of improving aircraft productivity

$AER thinks their book value is conservative. Deprecation higher than peers; consistently sell aircraft for gains

$AER on their financial outlook: fleet continues to get younger, significant excess cash flow to put back into business or buyback shares (this is from end of 2017 investor day)

$AER on why they trade at a discount to peers and why that might be wrong

Ok, $AER 2017 investor day thread over. @given2tweet rejoice.