Aircraft financier sees revenues double

AIRCRAFT finance and leasing firm Pembroke Capital saw revenues more than double last year, increasing from $73m (€56.6m) to $156.4m.

Pembroke Capital Limited is a Dublin-based financial services company, founded in 1993, specialising in aircraft operating, leasing, financial services and management services.

The company has a fleet of owned, ordered and managed aircraft. Profit before tax was $28.3m, up from $13.3m in the previous year.

The company made $156m in lease revenue, which is derived from leasing aircraft to operators worldwide.

This is up from almost $69m in the previous year.

According to accounts just filed the principal activity of the company is the provision of finance to group companies, together with the provision of marketing, management and financial services.

The company is part of the Pembroke Group, whose activities include the ownership and leasing of aircraft together with the provision of marketing, management and financial services, according to the accounts.

The directors plan to continue to develop the activities and operations of the group in the coming year, the accounts also read.

The company expanded the scope of its investment management business in 2008 by trading in bonds. However, it ceased this in January 2009.

In 2009 the group expanded the scale of its operations with the purchase of a variety of aircraft, at a cost of $623m, on lease to clients located in Standard Chartered’s geographical footprint of Asia, Africa and the Middle East.

Standard Chartered is the ultimate parent company of the group.

The company’s wage bill was $8.1m last year, up from $6.7 in 2008. It had 24 people employed at the end of 2009.