Payouts to top managers at aircraft leasing firm SMBC doubles to €25.5m

Pay for the top managers at Dublin-based aircraft leasing firm SMBC Aviation Capital has more than doubled to $28.8m (€25.5m) this year.

Payouts to top managers at aircraft leasing firm SMBC doubles to €25.5m

New figures lodged by the IFSC-based firm show that directors at the firm, along with members of the executive committee and company secretary, received $28.77m, including $18.9m in long-term benefits.

The breakdown shows that the total pay includes $9.58m in salaries and other short-term benefits and $377,000 in post-employment benefits.

The firm is the one of the largest aircraft-leasing firms in the world. Ireland is the world capital for firms engaged in aircraft leasing that was spawned from the creation of Tony Ryan’s Guinness Peat Aviation in Shannon in the 1980s.

The accounts for the Japanese-owned SMBC and subsidiaries for the 12 months to the end of March show pre-tax profits rose 4% to $203m. The increase came as revenues climbed 11% from $879.85m to €974m.

Four of the the firm’s top executive directors are Irish and live in Dublin. They are chief executive Peter Barrett, chief legal officer Catherine Ennis, chief financial officer Barry Flannery, and chief operating officer David Swan.

There are six Japanese and one US national on the board.

“This has been another strong performance for the group and company with increased revenues and profitability,” according to the directors’ report.

At the end of March, the business had accumulated profits of $1.1bn.

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