UPDATE 1-AerCap posts lower quarterly profit
*Q3 EPS 42 cents vs estimate 40 cents
*Total revenue down but basic lease revenue up
ATLANTA, Nov 6 (Reuters) - Dutch leasing company AerCap Holdings NV (AER.N), which plans to acquire rival Genesis Lease Ltd (GLS.N), said on Friday that quarterly profit fell on lower aircraft maintenance revenue.
Third-quarter net income fell 31 percent to $35.5 million, or 42 cents a diluted share, from $51.3 million, or 60 cents a share, a year earlier.
Analysts expected profit of 40 cents a share, according to Thomson Reuters I/B/E/S.
Revenue fell 30 percent to $212.5 million, compared with $274.8 million expected by analysts. Basic lease revenue rose 7 percent in the quarter but maintenance rents fell.
AerCap said in September it would buy Genesis Lease for about $300 million in stock, giving it greater scale and access to more funds for plane purchases. The deal is expected to close this quarter.
Separately, AerCap also said on Friday that it signed agreements with China Development Bank that provide $358 million of funding to cover four new Airbus (EAD.PA) A330 planes that are scheduled to be delivered in 2010 and 2011. The planes are part of an order placed in 2006-2007, AerCap said. (Reporting by Karen Jacobs; Editing by Derek Caney)
