By Business & Finance 
Aengus Kelly, CEO, AerCap, leads the company to another record quarter with a net income of $3.1 billion for 2023. Total revenue and other income increased eight percent to $7.6 billion. He is our Business Person of the Month February 2024, in association with KPMG Ireland.
Aercap, the Irish aircraft lessor whose tagline reads ‘Never Stand Still’, has successfully ensured their commercial activity accurately reflects the ethos. It is currently the largest aircraft leasing company in the world. With a portfolio of 1,733 aircraft and an appetite for growth, AerCap is riding high on the demand for international travel and the supply challenges facing airlines with a shortage of aircraft.
In 2014, AerCap acquired ILFC and seven years later, in 2021, the company completed its acquisition of GE Capital Aviation from General Electric, rendering it the biggest business in the aircraft leasing industry.
The most recent financial results are a result of AerCap’s consistent growth and support and development of aviation across the globe.
Aengus Kelly, CEO, AerCap said: “These results reflect the continued strong operating environment across our businesses and the positive momentum for leasing and sales of aircraft, engines and helicopters. In addition, this quarter we collected over $600 million of insurance settlements for a total of $1.3 billion collected during 2023.
“This strong performance is a testament to the talent, dedication and commitment of the entire AerCap team and our industry leadership. Given the strong tailwinds that we see for demand for aircraft, engines and helicopters, we are confident about the outlook for AerCap in 2024 and beyond.”
Aengus Kelly
Mr. Kelly was appointed Executive Director and CEO in 2011. Prior to that he served as CEO of AerCap’s US operations. The chartered accountant began his career in the aviation leasing and financing business in 1998 with Guinness Peat Aviation and continued working with its successors AerFi in Ireland and debis AirFinance and AerCap in Amsterdam. He holds a Bachelor’s degree in Commerce and a Master’s degree in Accounting from University College, Dublin.
Business Person of the Month
The Business Person of the Month Award, in association with KPMG, recognises outstanding leaders in Irish business. It especially acknowledges those who have made significant contributions to the business community of Ireland.
Recipients of the award are automatically put forward as candidates for the prestigious Business Person of the Year Award at the annual Business & Finance Awards.
Business & Finance, Company of the Month
Business & Finance, in association with KPMG, recognises excellence in business through the ‘Company of the Month’ award. The Company of the Month award recognises the company which best demonstrates outstanding business leadership, sustainable growth, innovative strategy, strong financial returns and employee development.
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