Business Irish

Saturday 16 December 2017

Figures soar at SMBC Aviation Capital leasing firm

Peter Barrett, CEO of SMBC Aviation Capital
Peter Barrett, CEO of SMBC Aviation Capital

Gordon Deegan

The aircraft leasing firm at the centre of one of the biggest deals in Irish corporate history recorded operating profits of $361.8m (€264.6m) last year.

Dublin-based SMBC Aviation Capital – formerly RBS Aerospace – was purchased in 2012 by Japan's second largest bank, Sumitomo Mitsui, for over $7.3bn from RBS.

The firm is today led by a predominantly Irish executive team and is one of the top commercial lessors worldwide, with new figures just filed with the Companies Office showing that the firm's 73 staff last year shared a pay bonanza of $38.7m in salaries – or on average over $530,000 each.

There are 11 directors on the board's firm including four Irish directors and the figures show that the firm's key management personnel, which include the directors and members of the executive committee, last year shared salaries and pension benefits totalling $17.35m.

The firm's top executive directors are all Irish and residents in Dublin.

They are listed as chief executive Peter Barrett, chief legal officer Catherine Ennis, chief financial officer Barry Flannery and chief operating officer David Swan.

The company is based at the IFSC and the figures show that the firm's revenues increased from $151m to $626.9m in the 12 months to the end of March with the prior year covering only a three-month period.

According to the directors' report, they "are satisfied with the group's and company's performance in the financial year".

Irish Independent

Promoted Links

Business Newsletter

Read the leading stories from the world of Business.

Promoted Links

Also in Business