Payout for 13 directors as Awas leasing firm in red

Thirteen directors at a Dublin-based aircraft leasing firm, Awas Aviation Capital shared a paypot of $10.7m (€9.1m) last year. However, the new accounts show the firm plunged to a net loss of $112m, as revenues fell 21% to €946m.

Impairment costs of $177m, combined non-cash depreciation and amortisation costs of $362m, and net finance expenses of $417m, contributed to the loss.

Earlier this year, Dubai Aerospace purchased Awas Aviation from Terra Firma Capital and Canada’s state pension reserve.