$6.7m to Awas Aviation executives included share-based payments
Executives at a Dublin-based aircraft leasing firm enjoyed a $6.7 million (€5.1 million) pay bonanza in 2011.
Accounts filed by the main Irish arm of Awas to the Companies Office show its key management personnel shared $4 million in share-based payments.
The returns by Awas Aviation Capital Ltd show key management personnel received the payments after pre-tax profits increased by 10 per cent to $144.2 million from $131.3 million in the year to end- November 2011. Revenues rose by 6 per cent to $774 million from $730.9 million.
Awas, one of the largest aircraft leasing firms in the world, has its global headquarters in Dublin.
Key personnel – including directors and certain members of the senior management team – received $2.7 million in pay on top of the $4 million in share-based benefits. The 126 staff received $38 million in total or on average $302,285 in “compensation and benefit expenses”.
Awas is owned by Carmel Capital, which in turn is owned by investment funds managed by Terra Firma Investments.