Aircraft engine-leasing firm with just 22 staff sees profit hit over €30m

A Shannon-based aircraft engine-leasing firm employing only 22 people made a pre-tax profit of $39.4m (€30.1m) last year.

Accounts filed to the Companies Office show that US-owned Shannon Engine Support Ltd increased its pre-tax profits by 22%, from $32.2m to $39.4m, in the 12 months to the end of December last.

The increase in profits came in spite of revenues dropping at the firm by 13%, from $110.3m to $95.4m. Shannon Engine Support paid a dividend of $28.1m last year.