Aircraft lessor SMBC Aviation Capital reported its results for the financial year which ended March 31, 2019, including a pre-tax profit of $344 million, an increase of almost 8% year over year.
Other key highlights included:
Commenting on the company’s performance, Peter Barrett, SMBC CEO, 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.
“We have also spent considerable time planning for the future, working closely with our customers to anticipate their needs. This is enabling us to differentiate ourselves from other lessors in the market and will serve to insulate us from any future challenges and, capitalize on opportunities that may arise.”
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