Irish aircraft leasing giant Aercap earned profits of $434 million (€378m) in the three months ended September 30th, according to figures released by the company on Wednesday.
Dublin-headquartered Aercap last week completed a €25 billion take over of GE Capital Aviation Services (GECAS), making it the world’s biggest player in its industry.
Results for the three months ended September 30th show net income for the period was $434 million. Excluding costs associated with the GECAS deal, the figure was $522 million.
Total revenues rose 42 per cent over the same period last year to $1.4 billion, Aercap said.
The results do not include the impact of the GECAS take over as the transaction only completed last week.
On September 30th, Aercap, owned, managed, or had on order, a total of 1,304 aircraft.
Aengus Kelly, chief executive, noted that the quarter was an important one for the company.
“Our business continues to recover from the effects of the Covid-19 pandemic, with leasing demand and cash collections remaining strong,” he said.
Mr Kelly added that the GECAS deal added well-priced assets and a team of experienced people that would further boost Aercap’s position.