efficiency
The head of Shannon-based aircraft leasing company Genesis Lease
has stressed the importance of leasing new fuel-efficient aircraft
models. The 18-month old company plans to ride out the economic
downturn by leasing new generation aircrafts in diversified
markets, according to CEO John McMahon.
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McMahon said the new Boeing 737s which make up the majority
of Genesis’ fleet of 53 were up to seven per cent more
fuel-efficient than older models. He said this was an important
consideration for airlines as oil prices look set to remain high.
McMahon added that branching out into many airlines and
geographical regions would help protect Genesis Lease from economic
shocks.
Genesis has released Q2 reports showing a 25 per cent increase
in rental revenues on 2007, over a period where it increased its
fleet from 41 to 54 aircraft.
Mc Mahon said: “Despite the perceptions that are out there in
terms of airlines and financial companies, at the business level
our business is performing well”
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