Revenue during the quarter dropped 6.16 percent to $1,236.83 million from $1,318.02 million in the previous year period. Total expenses were 44.07 percent of quarterly revenues, down from 50.39 percent for the same period last year. This has led to an improvement of 632 basis points in operating margin to 55.93 percent.

Operating income for the quarter was $691.81 million, compared with $653.91 million in the previous year period.

Aengus Kelly, chief executive officer of AerCap, commented: "AerCap delivered another quarter of consistent results. During the first quarter, we generated $1.48 of earnings per share and net income of $261.2 million. The strong operational performance of the business is evidenced in 105 aircraft transactions executed during the quarter, as well as the 99.7% fleet utilization level achieved. We also received our third investment grade rating from Moody’s and completed $7.2 billion of financing transactions, further strengthening AerCap's balance sheet."

The company has spent $478.68 million cash to meet investing activities during the quarter as against cash outgo of $314.83 million in the last year period. It has incurred capital expenditure of $202.98 million on net basis during the quarter, up 30.04 percent or $46.89 million from year ago period.

The company has spent $422.69 million cash to carry out financing activities during the quarter as against cash inflow of $0.69 million in the last year period.

Cash and cash equivalents stood at $1,935.63 million as on Mar. 31, 2017, down 33.92 percent or $993.60 million from $2,929.23 million on Mar. 31, 2016.