SMBC Aviation Capital reported its half-year results as of September 30, 2019. The strong first half performance was driven by increases in lease revenue and trading, resulting in a pre-tax profit of $200 million.
Other highlights from the half year included:
Ongoing cooperation with the company’s shareholders has also continued to reap benefits in selling aircraft into the Japanese market, the largest standalone aircraft investment market globally. Nine aircraft have so far been sold to Japanese investors.
Commenting on the performance, Peter Barrett, CEO of SMBC Aviation Capital, said, “Successful implementation of our strategy and relentless focus on building long-term customer relationships has resulted in growth of our leasing business and continued interest from trade investors in acquiring our assets. This has allowed us to deliver a strong financial performance in the first half of the year, demonstrating our ability to deliver profitable growth.
“Our differentiation continues to be the strength of our portfolio alongside the support and collaboration with our shareholder which enables us to provide a diverse product offering to a growing number of customers in the aviation industry.”
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!