Saturday 18 April 2015

GE Aviation directors to share a pay pot of €11.2m

Gordon Deegan

Published 28/06/2014 | 02:30

GE Capital Aviation Services directors shared a pay pot of €11.2m. (THINKSTOCK IMAGES)
GE Capital Aviation Services directors shared a pay pot of €11.2m. (THINKSTOCK IMAGES)

The 14 directors of the Irish arm of the world's largest aircraft leasing firm last year shared a pay pot of $15.27m (€11.2m).

GE Capital Aviation Services Ltd (GECAS) is based at Shannon and new figures lodged with the Companies Office show that pre-tax profits last year reduced by 31pc to $84.9m.

The drop came in spite of revenues increasing by 18pc to $260.1m in the year to the end of December 31 last.

The $15.27m payout includes $6m in bonuses, $6.46m in salaries, $1m in pension payments, $1m in share-based payments and $624,000 in benefits-in-kind.

The firm increased its operating profits more than seven-fold last year from $4.1m to $31.79m. The decrease in pre-tax profits is attributable to dividends received from five subsidiaries reducing.

The return shows that eight of the directors are Irish: Seamus Fitzgerald, Sean P Flannery, Declan Hartnett, Diarmuid Hogan, Diarmuid Hyde, John Ludden, Deirdre Norris and Gerry Kenneally who stepped down from the board last September.

Irish Independent

Read More

Promoted articles

Editors Choice

Also in Business