AerCap work­ers share €67m in pay bo­nanza

Irish Independent - Business Week - - FRONT PAGE - Gor­don Dee­gan

MORE than 230 staff at an Ir­ish sub­sidiary of air­craft-leas­ing gi­ant AerCap last year shared a pay bo­nanza of $77m (€67m).

New ac­counts filed with the Com­pa­nies Of­fice for AerCap Ire­land Ltd show that the 234 staff at the com­pany were paid on av­er­age $329,136 for the year.

The pay was made up of $34m in wages and salaries, with an ad­di­tional $43m paid out in “other com­pen­sa­tion ben­e­fits”. The staff costs also in­cludes pen­sion costs of $4m and $6m in so­cial wel­fare costs.

The Dublin-based firm is a sub­sidiary of AerCap Hold­ings, which is listed on the New York Stock Ex­change.

Rev­enues at the Ir­ish unit last year in­creased marginally, go­ing from $263m to $266m while pre-tax prof­its dropped by 82pc to $34m.

The pub­licly-quoted com­pany is led by Aen­gus Kelly. Last year he over­saw to­tal rev­enue of $5bn and prof­its of $1.2bn. To­day, AerCap is the global leader in air­craft leas­ing and avi­a­tion fi­nance with $42bn of as­sets.

The com­pany is the largest owner of com­mer­cial air­craft in the world and the most ac­tive air­craft trader. At the end of June, glob­ally AerCap had 1,060 air­craft owned and man­aged, with a fur­ther 411 air­craft on or­der.

In 2017, Mr Kelly and four other ex­ec­u­tives in AerCap – Wouter den Dikken, Keith Helm­ing, Peter Juhas and Philip Scruggs – shared a pay pot of $9.3m that in­cluded $600,000 in re­tire­ment and pen­sion plans.

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.