06-Nov-2009 2:40 PM
Genesis Lease up despite 3Q2009 loss, Spirit AeroSystems worried about narrowbody production
Analysis
Genesis Lease reported a net loss of USD3 million for 3Q2009, as depreciation related to planned major maintenance costs ballooned out to USD3.2 million in the quarter and the company suffered USD2.5 million expense related to the proposed merger with AerCap. It also took a USD7.7 million non-cash charge related to its subsequent decision to reduce capacity under its revolving credit facility from USD1 billion to USD200 million.
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