SMBC Aviation Capital reported results for the year ended March 31, 2017.
The following highlights were excerpted from the news release:
Commenting on the company’s performance, Peter Barrett, CEO, SMBC Aviation Capital said: “This has been another year of strong financial and operational growth, which is testament to the strength of our strategy of continued investment in young aircraft, combined with trading through the cycle. The delivery of the newest technology aircraft has commenced with the placement on sale and leaseback over the year of four A320neos, seven Boeing 787-8s and our first A350 since year end. We are pleased with the global footprint of our business, particularly with activity in Asia. We experienced significant investor demand for our portfolio and sold 39 aircraft in total to 24 different investors, 20 of which were new customers. This enabled us to lower the weighted average age of our overall portfolio to 4.5 years. When combined with our order book of 110 Airbus A320neo and 90 Boeing 737 Max aircraft, this supports us in maintaining one of the youngest, most technologically advanced and fuel efficient fleets in the industry. It is now five years since we were acquired by Sumitomo Mitsui Financial Group and Sumitomo Corporation. The strength of this relationship this year alone, has resulted in a collaboration on more than $2.2 billion of JOL and JOLCO (Japanese operating leases with call options) for our customers. We also further diversified our funding base during the year raising $500 million from the launch of our inaugural bond in July 2016. Our strategy, combined with our leading market position and supportive shareholders ensures that we are well placed for the future.”
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