Aviation entrepreneur, Dómhnal Slattery has confirmed that his Dublin-based €4bn Avolon aircraft leasing business is profitable less than two years after launching in 2010.

START-UP costs totalling $15.3 million (€10.64m) for aviation financier Domhnall Slattery’s Avolon Aerospace Leasing group contributed to the group recording a loss of $35m (€24.3m) in its first year, new figures show.

United Utilities, a UK operator of water and wastewater, today agreed to sell its business outsourcing division in a deal worth £217.5 m (€329.7m) with a consortium of US private equity firms.