Genesis Lease Limited Announces Second Quarter 2008 Results

SHANNON, Ireland, July 31, 2008 (PRIME NEWSWIRE) -- Genesis Lease Limited (NYSE:GLS) ("Genesis") today announced its financial results for the second quarter ended June 30, 2008. Highlights for the second quarter included: * Q2 rental revenues increased 25.3% to $52.0 Million * Q2 EBITDA increased 18.1% to $46.0 Million * Took delivery of a new B767-300ER aircraft * Secured new bank debt of more than $90 million * Unchanged quarterly dividend anticipated at $0.47 per share For the quarter ended June 30, 2008, rental revenues were $52.0 million, compared to $41.5 million for the same period in 2007, an increase of 25.3%. For the six months ended June 30, 2008, rental revenues were $106.1 million, compared to $82.0 million for the same period last year, an increase of 29.4%. The increases in rental revenues were primarily the... [read full story]