Lessors lose ground as ALAFCO reports full year profit – Suppliers Share Wrap
Aviation lessors were generally down at the close of trading yesterday. Worst affected was regional lessor, Aerocentury (-8.1%), but Babcock & Brown Air (-3.1%), Aircastle (-2.1%) , Genesis Lease (-1.2%) and Aercap (-1.2%) were all down.
The results come despite a recent string of good results and Kuwait-based lessor ALAFCO announcing a 1.3% year-on-year improvement in its FY2008/2009 operating results, with a net profit of USD35.6 million. The company views the result as a strong positive given the global downturn. It built up its portfolio over the year, adding 12 new aircraft, most of which are leased in the Middle East.
Business and private lessor Air Partner went against the trend yesterday, with a 6.2% share gain.
Selected Aviation suppliers’ daily share price movements (% change): 10-Nov-09