News — 2017

SMBC Aviation Capital results for the half year ended 30 September 2017


- Another period of strong profitability, driven by core leasing business -

- Robust demand fuelling aircraft trading activity -

Dublin, 14 November 2017: SMBC Aviation Capital, one of the world's leading aircraft leasing companies, today announces its results[1] for the half year ended 30 September 2017.

Key Highlights:

  • Profit before tax of $167 million, up 3.1% compared to H1 2016 ($162 million).
  • Revenue and Other Income of $566 million.
  • Aircraft assets[2] of $10.5 billion, comprising 278 owned and 174 managed aircraft.
  • 7 new aircraft deliveries, 6 of which are newest technology A320neo and A350 aircraft.
  • 14% of portfolio now comprised of newest technology A320neo, A350 and B787 aircraft.
  • 13 owned aircraft sold with an average age of 7.5 years
  • Contracted sale agreements / letters of intent signed for the sale of a further 38 aircraft, including a portfolio of 20 aircraft to Aircastle.
  • Raised $500 million in new funding through bond issue in July 2017.
  • Shareholder announcement of up to USD $1 billion capital injection by 31 March 2019.

Commenting on the results, Peter Barrett, CEO of SMBC Aviation Capital, said:

"We are pleased with our performance in the first half of the year. Our portfolio valued at $10.5 billion has been the primary driver of the strong result in our core operating lease business. We have continued our transition to new technology aircraft, with the majority of deliveries this year being the newest A320neo and A350 aircraft.

We have again seen significant activity in our trading business and have taken advantage of the increased demand for good quality assets to selectively trade aircraft, in line with our strategy of trading through the cycle. In the year to date we have closed 13 sales, with contracts and letters of intent for sales of a further 38 aircraft, including our 20 aircraft deal with Aircastle.

Furthermore, last week's announcement from our shareholders that they are to provide up to USD $1billion in capital to the company, coupled with our bond programme which raised USD $500 million in July, means that we are well positioned to fund our future expansion plans."


For media enquiries, please contact:

Ben Griffiths, Powerscourt (UK): +44 207 250 1446

Selene Alford, Powerscourt (Ireland): +353 87 642 8844

Note to Editors

About SMBC Aviation Capital

SMBC Aviation Capital is one of the world's top 5 largest aircraft lessors, with c. 100 airline customers in 42 countries. As of 30 September 2017, the company owns, manages and is committed to purchase 668 aircraft. Established in 2001, the company rebranded to SMBC Aviation Capital in 2012 following its acquisition by a consortium comprising two of Japan's biggest companies SMFG and Sumitomo Corporation.

[1] The financial and non-financial metrics disclosed for the period relate to SMBC Aviation Capital, its subsidiaries and affiliate group companies

[2] Owned aircraft assets under operating lease (including assets held for sale)

Media Enquiries:

Conor Irwin/Orla Benson
SMBC Aviation Capital

+353 1 859 9425
+353 1 859 9067

Charles O'Brien

+44 0 7825 043 656