-Record profitability alongside large scale sale and leaseback deals and strong numbers of aircraft sales-
Dublin, 7 June 2018: SMBC Aviation Capital (or the "Company" ), one of the world's leading aircraft leasing companies, today announces its results (1) for the financial year ended 31 March 2018.
Commenting on the company's performance, Peter Barrett, CEO, SMBC Aviation Capital said:
"This has been another year of record profitability for SMBC Aviation Capital and we are pleased with the overall performance of the company
It was a positive year for our sale and leaseback business particularly in Asia and South America where we have continued to execute deals of scale with our long term customers including 10 Boeing MAX 8 aircraft to Aeromexico; 11 Airbus A320 neo aircraft to Avianca and 13 Boeing 737 MAX 8 aircraft to Jet Airways.In the majority of these deals, we have been able to partner with our shareholders to offer PDP financing which has given us competitive advantage.
Our trading performance has been strong and has included a number of large scale bilateral deals including the sale of an eight, narrow-body aircraft portfolio to Genesis Aircraft Services and the completion of a 19-aircraft sale to Aircastle Ltd. These transactions, among others, have allowed us to deliver on our strategy of actively trading and managing our portfolio, the average age of which is 4.5 years. Our fleet continues to be one of the best amongst lessors with 22% made up of the newest technology aircraft.
The strong support from our shareholders, coupled with the provision of up to USD $1.4 billion of third party finance means that we have continued to successfully diversify our funding base.
Our team's achievements during the year, which is demonstrated in our ability to deliver for our customers and the consistent execution of our strategy have positioned us well to continue to grow in this sector."
Orla Benson, SMBC Aviation Capital, Mobile: 00 353 86 047 4343
Ben Griffiths/Selene Alford, Powerscourt: +44 7753 464 637 / +353 87 642 8844
ABOUT SMBC AVIATION CAPITAL:
SMBC Aviation Capital is one of the world's leading aircraft lessors, with c. 90 airline customers in 40 countries. At 31 March 2018, the company owns, manages and is committed to purchase 675 aircraft. Established in 2001, the company was acquired in 2012 by a consortium comprising of two of Japan's biggest companies SMFG and Sumitomo Corporation. For further information go to https://www.smbc.aero/
(1) - The financial and non-financial metrics disclosed for the period relate to SMBC Aviation Capital's Irish entity and its subsidiaries