Babcock and Brown Air revenue up 9.0% in 4Q2009, sees improvements in 2010

Babcock and Brown Air revenue up 9.0% - financial highlights:

• Three months ended 31-Dec-2009:
  • Total revenue: USD66.1 million, +9.0% year-on-year;
    • Operating lease revenue: USD52.5 million, -2.2%;
  • Total cost: USD48.8 million, -2.3%;
  • Profit before tax: USD+61.1%;
  • Net profit: USD13.7 million, +46.5%;
• 12 months ended 31-Dec-2009:
  • Total revenue: USD307.5 million, +30.2%;
    • Operating lease revenue: USD214.0 million, -2.3%;
  • Total cost: USD194.1 million, +7.1%;
  • Profit before tax: USD113.5 million, +106.3%;
  • Net profit: USD89.1 million, +85.1%. [more]

Babcock & Brown Air: "Looking ahead, we expect airline and financial market conditions to improve in 2010 and we will continue to evaluate aircraft acquisition opportunities and further initiatives to enhance shareholder value," Colm Barrington, CEO. Source: Babcock & Brown Air, 04-Mar-2010.