AerCap revenue eases 0.3% but net profit more than doubles
AerCap has reported a minor reduction in revenue in 1Q2011 thanks to lower revenue from the sale of aircraft, engines and parts. The company's lease revenue jumped 56%, mainly due to the all-share acquisition of Genesis Lease on 25-Mar-2010 and deliveries of forward order aircraft. Shares in the company eased 0.3% yesterday.
AerCap Holdings financial highlights for the three months ended 31-Mar-2011:
- Revenue: USD362.3 million, -0.3% year-on-year;
- Lease revenue: USD273.3 million, +56%;
- Sales revenue: USD81.1 million, -56%;
- Net profit: USD72.1 million, +110.0%;
- Total assets: USD9789 million, +12%;
- Total cash: USD532.6 million, +21%;
- Total liabilities: USD7496 million, +9%.
Selected aviation lessors share price movements (% change): 05-May-2011