AerCap Holdings N.V. (“AerCap” or the “Company”) (NYSE: AER) is pleased to announce the passage of Mississippi’s new tax legislation, House Bill 1855. This bill provides a sales tax exemption for the lease or retail transfer of fixed-wing aircraft, as well as their engines, accessories, and spare parts.
The new legislation was enacted on April 25, 2024. Governor Tate Reeves ceremonially signed the bill into law on July 8, 2024, during a special ceremony at the Walter Sillers State Office Building in Jackson, Mississippi.
“The introduction of this legislation is a game-changer for commercial aircraft leasing and sales in Mississippi and aligns sales tax law with the majority of other states that already offer similar exemptions,” said Aimee Craig, the CEO of AerCap Materials. “The new legislation will allow AerCap to better service our customers by improving efficiency of dismantling and offering more competitive pricing. Moreover, it supports our ESG strategy by recycling parts from older technology aircraft and extending their useful life.”
“This follows two years of significant collaboration between AerCap and the Greenwood-Leflore-Carroll Economic Development Foundation who were instrumental in helping us drive this change. We would like to thank Governor Reeves, House Representatives and Senators, and the Mississippi Department of Revenue who supported the bill,” Ms Craig concluded.
