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6-Nov-2009 12:28 PM

Genesis Lease Ltd revenue up 5%

Genesis Lease Ltd revenue up 5% - financial highlights for the three months ended 30-Sep-2009:

  • Revenue: USD58.1 million, +4.5% year-on-year;
    • Rental of flight equipment: USD57.5 million, +3.8%;
  • Operating costs: USD44.9 million, -23.7%;
  • Profit before tax: USD13.2 million, compared to a loss of USD3.3 million in the previous corresponding period;
  • Net profit: USD11.4 million, compared to a net loss of USD3 million in the previous corresponding period;
  • EBITDA: USD47 million, -8.4%. [more]

Genesis Lease: "During the third quarter, our globally diversified portfolio of in-demand aircraft continued to deliver solid cash flows. However, our third quarter results were impacted by expenses related to the proposed merger with AerCap and a non-cash charge related to our subsequent decision to reduce capacity under our revolving credit facility from USD1 billion to USD200 million", John McMahon, CEO, Source: Genesis Lease, 05-Nov-2009.

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