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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