SMBC reports full year profit before tax of US$344 million, up 8%

Aircraft leasing company SMBC Aviation Capital, has posted its results for the financial year ended March 31, 2019. The company reported profit before tax of US$344 million for the financial year, an increase of almost 8% year over year and overall income of US$1.1 billion from continuing operations.

SMBC has reported the placement of 47 aircraft from its order book, the sale and leaseback of 40 aircraft and the sale of 30 aircraft. New technology aircraft now comprises 37% of its portfolio up from 22% in 2018 and 11% in 2017.

Total aircraft assets stood at US$11.9 billion (up from US$10.3 billion). The company placed a major aircraft order in December 2018 for 65 A320 NEO family aircraft for delivery between 2023-2025 to meet future growth requirements.

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