US aviation firm’s profits dip to $765m

A Shannon-based company engaged in financing aircraft leasing recorded pre-tax profits of $765m (€606m) last year, new figures show.

The pre-tax profit of $765m for the US-owned GE Capital Aviation Funding makes the firm one of the most profitable public and private limited companies in the country.

The figures show pre-tax profits decreased by 15% from $900m to $765m with impairment losses totalling $62m a factor behind the drop in profits in the 12 months to the end of December last.