AerCap has reported adjusted net income of $301.6 million or earnings per share of $1.54, for the first quarter of 2016. The Irish lessor said that the increase in adjusted earnings per share was primarily due to a lower number of outstanding shares as a result of share repurchases completed in 2015 and the first quarter of 2016. AerCap’s reported net income was $223.1 million, compared with $311.5 million for the same period in 2015, with reported basic earnings per share of $1.14. Reported net income and earnings per share were driven by the same factors as adjusted net income

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