SMBC Aviation Capital reveals FY 2019 results

Darren Wood
By Darren Wood June 11, 2019 12:18

SMBC Aviation Capital reveals FY 2019 results

SMBC Aviation Capital has revealed a profit before tax record $344 million for the financial year ending March 31, an increase of almost 8% year-on-year.

The group has revealed a record $1.1 billion of overall income from continuing operations.

Meanwhile, the leasing specialists overlooked the placement of 47 aircraft from its order book, the sale and leaseback of 40 aircraft and the sale of 30 aircraft, with total aircraft assets standing at $11.9 billion, up from $10.3 billion experienced in 2018.

Commenting on the company’s performance, Peter Barrett, CEO, SMBC Aviation Capital said: “This was a record year for revenue and profitability driven by our highly experienced and dedicated team who focused on delivering a positive customer experience for our airline and trading partners across the globe.

“We maintained a well-balanced and managed aircraft portfolio which was supported by the announcement in December 2018 that we will take delivery of an additional 65 new A320 neo aircraft between 2023 and 2025.  This highlights our commitment to future growth with the most technologically advanced and fuel-efficient models in line with our customers’ specifications across the globe.

“The year was also marked by our ability to maintain a robust and flexible balance sheet.  Confidence in our strategy was evidenced by our shareholders following a substantial capital injection of $1 billion and by the market in our ratings upgrade which makes us the highest rated dedicated aircraft leasing companies in our sector.”

Darren Wood
By Darren Wood June 11, 2019 12:18