AerCap 2014 profits hit 'record' $810m

Netherlands-based AerCap achieved full-year profits of $810m in 2014 after acquiring ILFC, with total revenues reaching $3.64bn.

Netherlands-based AerCap achieved full-year profits of $810m in 2014 after acquiring ILFC, with total revenues reaching $3.64bn.

The lessor, which described its results as a “record”, also posted Q4 revenues of $1.34bn, beating a Wall Street forecast of $1.26bn, while profit for the quarter totalled $298.2m.

AerCap also revealed that its fleet achieved a utilisation rate of 99.2 per cent in 2014 and had an average age of 7.7 years.

Following the purchase of ILFC, the firm said it had met targets on the integration of the companies, including the completion of aircraft transfer to Ireland and annualised earnings of $1bn.   

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