Profits soar at O’Brien’s aircraft leasing firm

PROFITS from the sale of the South African Safair group resulted in pre-tax profits at Denis O’Brien’s aircraft leasing company, Aergo Capital Ltd increasing sharply to $29.4 million (€21.8m) last year.

Accounts just filed by Dublin-based Aergo Capital show that pre-tax profits increased to $29.4m in the 12 months to the end of December from $2.68m in 2009.

The company made the increase in profits in spite of revenues decreasing by 24% from $150.6m to $114.6m.