Profits tumble 15% at engine leasing firm

Pre-tax profits at a Shannon-based aircraft engine leasing firm, Shannon Engine Support last year decreased by 15% to $38.8m (€36m).

Newly filed accounts also show that the company’s revenues declined by 22% to $81.22m According to the directors’ report section of the accounts “overall turnover decreased by 22% primarily driven by tight market conditions impacting the utilisation of the portfolio.

Activity pertaining to aircraft engine leasing decreased by 22%.”