Irish arm of former aircraft lessor GE Capital posts €1.4 billion profit via IrishTimesBiz
The $1.425 billion pretax profits at Celestial Aviation Services last year represent a seven fold increase on the $202 million pretax profits for 2020.
The accounts show that based on the Irish corporation tax rate of 12.5 per cent, corporation tax of $178.12 million would have been owing. However, the tax charge was reduced by $371.27 million due to ‘non-taxable items’ offset by $199 million on impairment on financial investments.The firm’s revenues last year increased by 35 per cent from $203.53 million to $275.7 million, with an operating profit of $38.62 million.
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