Five directors at the main Irish arm of aircraft leasing firm AerCap shared a pay package of $14m (€12.67m) last year.
New accounts for the Shannon-based Aercap Ireland Ltd show that overall pay to its 326 staff totalled $122m.
The combined $70m in salaries and $52m in “other compensation costs” of $122m works out at an average pay of $374,233 (€338,594) each for the 326 staff.
The pay costs includes the pay package to directors and the directors remuneration last year was made up of $9m in “benefits under long term incentives” and $5m in emoluments.
The $9m in “benefits under long term incentive schemes” was more than four times the $2m cost incurred by the company under that heading for its directors in 2024.
A note states that the directors perform directors’ duties for multiple entities in the AerCap Group, as well as their employment duties within the AerCap Group operations.
The firm last year recorded pre-tax profits of $2.6 billion which was mainly due to dividends received of $2.09 billion.
The directors state that the company has paid dividends of $1.54 billion to its parent since the financial year end.
Revenues at the firm last year increased by 39.5% from $468m to $653m and a breakdown of revenues shows that 40% or $238m was generated in Asia; 27% or $157m in Europe; 19% or $114m in the Americas and 14% or $80m in “Other”.
The firm recorded an operating loss of $148m last year and it takes account of combined non-cash depreciation and impairment costs of $307m.
However, net interest receivable of $531m and the dividend received of $2.09 billion resulted in the pre-tax profit of $2.6 billion.
The firm also benefited from $66m in net recoveries from the Ukraine conflict concerning aircraft and engines in Russia that the firm has been unable to recover.
A note states that the firm recognised recoveries of $66m arising from a June 11, 2025 judgement from the London Commercial Court in respect of the group’s claim against the insurers under the Group’s C&P Policy.
In a post balance sheet event, the directors state that on March 31, 2026, the Court of Appeal granted the relevant insurers of the company’s C&P Policy permission to appeal the 2025 Judgment.
The directors state that the company intends to vigorously defend against the insurers’ appeal.
“However, if the insurers ultimately prevail upon appeal, the company may be required to repay up to all amounts received pursuant to the 2025 Judgement, plus applicable interest. Based on current assessments, the directors do not consider this outcome to be probable,” they state.
The firm last year recorded a post tax profit of $2.5 billion after incurring a corporation tax charge of $103m.
The Shannon unit is the main Irish arm of the New York Stock Exchange listed Aercap, which is the world’s largest owner of commercial aircraft and leader in aviation leasing.
Reporting by Gordon Deegan
