Leasing firm sees profits drop 36%

PRE-TAX profits at a Shannon-based aircraft engine leasing firm fell 36% to $32 million (€23.1m) last year.

In accounts filed to the Companies Office, US-owned Shannon Engine Support Ltd incurred the drop after revenues decreased by 17%, from $133.6m to $110.3m, in the 12 months to the end of December.

Established in 1988 and part-owned by US giant GE, Shannon Engine Support provides services to 140 airlines. It employs just 20.