SMBC Aviation Capital has reported a decline in pre-tax profit for the first half (H1 2020) of its financial year ending September 30 2020 reflecting the impact on clients of the falloff in travel demand due to the coronavirus pandemic. The lessor’s profit before tax was $17.3 million compared to $200 million in H1 FY19, as it dealt with the impact of lease restructurings and airline Chapter 11 processes, which contributed to a $68 million increase in provisions for credit losses and a $51 million increase in asset impairment charges. SMBC Aviation Capital’s total aircraft operating lease assets grew by

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