AerCap workers share €67m in pay bonanza
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.