AerCap Holdings N.V. said Tuesday that it plans to buy back up to $130 million of its own stock in 2012.
The airplane leasing company, based in the Netherlands, said the repurchase authorization follows previously announced repurchase programs in 2011 and 2010 of $100 million.
Barclay's Equity Research analyst David Fintzen said the buyback did not come as a surprise and should be well received by the market. While he adjusted his earnings estimates to account for fewer shares in the future, he believes the buyback plan will not take away from the company's ability to grow its assets this year.
AerCap has an estimated 139.9 million shares outstanding. Its stock price rose 40 cents, or 3.7 percent, to close at $11.30. Shares have ranged from $8.77 to $13.53 in the last 52 weeks.