Dublin-based SMBC Aviation Capital, one of the world’s leading aircraft leasing companies, has announced a 16% increase in half-year profits for the six-month period ended 30th September 2024. The main highlights in its statement were:
- Profit before tax of $275 million, up 16% on the prior year’s period
- Took delivery of $1.7 billion of aircraft, growing the size of its owned fleet to 516 aircraft as of 30th September
- Signed $3.2 billion of long-term leases over the last 6 months, including more than $1.1 billion of new lease arrangements with customers in Asia
- Signed contracts with two major North American operators for a total of 35 A321NEO aircraft
- Traded $411 million of predominantly mid-life aircraft, with a further pipeline of $1.1 billion of asset sales over the coming months
- New technology aircraft now represent 70% of the portfolio
- Raised $3 billion in third-party financing since 1st April to support the expansion of the business, including $1.9 billion of drawn funding alongside $1.1 billion of additional RCF capacity
Aisling Kenny, CFO of SMBC Aviation Capital, commented: “SMBC Aviation Capital has delivered another strong set of results, with our profit before tax rising 16% on a year-on-year basis, driven by strong underlying market fundamentals and the continued optimisation of our portfolio through our sale and leasing activities. Current market dynamics continue to present attractive opportunities to lease, re-lease and trade our assets, enabling us to lock in increasingly attractive terms with some of the strongest airline counterparties. The ongoing enhancement of our portfolio will drive the profitability of our business for years to come, supporting our ability to deliver stable, long-term, fixed-income style returns to our shareholders.”
