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AerCap Holdings revenue down 12%, returns to profitability in 4Q2009

25-Feb-2010 11:59 AM

AerCap Holdings revenue down 12% - financial highlights:

  • Three months ended 31-Dec-2009:
    • Revenue: USD287.6 million, -12% year-on-year;
      • Lease: 165.7 million, +11%;
    • Cost: USD217.1 million, -41.8%;
    • Profit before income tax: USD70.5 million, compared to a loss of USD46.3 million in the previous corresponding period;
    • Net profit: USD43.2 million, compared to a loss of USD19 million in the previous corresponding period;
  • 12 months ended 31-Dec-2009:
    • Revenue: USD1,003 million, -20%;
      • Lease: USD650.6 million, +8%;
    • Cost: USD793.0 million, -28.9%;
    • Profit before income tax: USD210.3 million, +49.7%;
    • Net profit: USD165.2 million, +9%. [more]

AerCap: “AerCap management used 2009 to best position the company for the impending economic recovery by progressively growing and upgrading its aircraft fleet with the addition of $1.9 billion of brand new, state of the art aircraft. Our efforts have resulted in a 30% increase of revenue from leasing activity after deduction of interest cost (net spread). AerCap is well positioned as the largest global independent aircraft leasing company to take full advantage of the industry recovery which is now well underway in most markets,” Klaus Heinemann, CEO. Source: AerCap, 24-Feb-2010.