Positive swing of $70m for Shannon aircraft leasing firm

A Shannon-based aircraft leasing firm last year returned to profit to record pre-tax profits of $40m (€32m), figures show.

Accounts lodged with the Companies Office show AerCap Ireland Ltd recorded the $40m profit before tax in the 12 months to the end of December last after sustaining a pre-tax loss of $30m in 2010 — a positive swing of $70m.

The accounts disclose that the firm paid a dividend of $290m to its Dutch-based parent last year. AerCap’s revenues increased by 20%, from $34m to $41m. Operating expenses last year totalling $93m resulted in an operating loss of $52m.