AerCap recorded first quarter 2008 net income of $50.9 million. Included in the first quarter 2008 net income amount were non-cash charges related to the mark-to-market of interest rate caps and share-based compensation of $9.0 million net of tax. Total revenue in first quarter 2008 decreased 5% compared with first quarter 2007. This decrease was largely driven by a lower amount of other revenue in first quarter 2008. Other revenue in first quarter 2007 included $10.7 million relating to the elimination of a guarantee liability, which did not occur in first quarter 2008.
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