General Electric Capital Aviation Services (GECAS) reported today first quarter net income of $348 million, an increase of 9% compared with the year-earlier period.
Total revenues increased 4% to $1.3 billion in the quarter to 31 March, the lessor says in an earnings statement.
Last year GECAS reported fourth quarter net income of $343 million, an increase of 9% compared with the year-earlier period. Sales increased 4% to $1.4 billion in the quarter to 31 December.
Total assets were consistent with previous levels at $49.4 billion.
Parent company General Electric reported first quarter 2013 earnings of $4.1 billion, up 14% from the first quarter of 2012. Revenues were $35 billion for the quarter, flat with the year-ago period.