AerCap Holdings released the results of its operations for the fourth quarter and full year ended December 31, 2010. Fourth quarter 2010 net income was $72.4 million, compared to net income of $43.2 million for the same period in 2009. Fourth quarter 2010 net income excluding the impact of the mark-to-market of interest rate caps and share-based compensation was $56.3 million, compared to net income of $40.3 million in fourth quarter 2009 on the same basis. Total revenue for the fourth quarter of 2010 was $397.7 million, compared to $287.6 million for the same period in 2009. The increase was mainly due to the increase in lease revenue which was primarily driven by the all-share acquisition of Genesis Lease Limited (the "Genesis Transaction") which occurred in March 2010 and the deliveries of forward order aircraft.
Full year 2010 net income was $207.6 million, compared to $165.2 million for the full year 2009. Full year 2010 net income excluding the impact of the mark-to-market of interest rate caps and share-based compensation was $223.9 million, an increase of 49% compared to $150.2 million for the full year 2009. This increase was mainly caused by the Genesis Transaction and the deliveries of forward order aircraft. Total revenue for the full year 2010 was $1.8 billion, up 83% compared to the full year 2009 resulting primarily from sales revenue and an increase in basic lease rents driven by the additional aircraft acquired in the Genesis Transaction and the deliveries of forward order aircraft.