AerCap Welcomes Mississippi’s New Sales Tax Exemption on Aircraft Leases

Reading Time: 2 minutes

AerCap Holdings N.V., also known as AerCap or the Company, has expressed its approval for the recent passage of House Bill 1855 in Mississippi. This new law provides a sales tax exemption on leases or retail transactions involving fixed-wing aircraft, including their engines, accessories, and spare parts.

The bill was officially signed into law by Mississippi Governor Tate Reeves during a formal ceremony at the Walter Sillers State Office Building in Jackson, Mississippi, on July 8, 2024, after being enacted on April 25, 2024. The signing was attended by notable figures including Speaker of the House of Representatives, Jason White; Jim Neill, President of the Carroll County Board of Supervisors; Cyndi Long, AerCap Materials Site Operations Manager; Senator Lydia Chassaniol; Representative Karl Oliver; Aimee Craig, CEO of AerCap Materials; Allen Burgess, CFO of AerCap Materials; Thomas Gregory, Executive Director of the Greenwood-Leflore-Carroll Economic Development Foundation; and Wilton Neal, retired Carroll County Tax Assessor.

“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.