Babcock & Brown Air Ltd. rises on Q4 profit
Shares of Babcock & Brown Air Ltd. (NYSE:FLY) are rising on news before the start of trading that the lessor of commercial jet aircraft reported a fourth-quarter profit. The Dublin, Ireland-based company reported that it had net income of $4.4 million, or $0.13 per share, for the three months ended Dec. 31, 2007, compared with earnings of $2.35 million, or $0.19 per share, a year earlier.
"Despite concerns about a slowdown in economic activity in North America, demand for leased aircraft remains strong, particularly from airlines in the emerging markets," CEO Colm Barrington said in a statement.
At 1:08 p.m. ET, the stock was up $0.36, or 2%, to $15.00. For detailed price information and recent news stories about Babcock & Brown Air, click FLY.
