Industry Addendum: Finance
SMBC Aviation Capital defers deliveries of 68 737MAXs to 2025-2027
June 1st 2020
SMBC Aviation Capital has reported a profit before tax of US$364.5 million for the fiscal year to March 31 and revealed it had deferred orders for 68 737MAXs to 2025-2027. Read More »
The lessor said its operating lease assets grew by 3.7%, to $10 billion; lower than forecast growth, for the year. It attributed the shortfall to the 737MAX grounding in March last year and delays in delivering the A320neo.
The Dublin-headquartered lessor reported EBITDA of US$1. 1 billion “with EBITDA to interest coverage remaining strong at 3.6 times”, it said in a June 3 results statement.
“The pandemic will have a significant and potentially prolonged impact on the aviation industry. This period also has demonstrated the importance of air travel to the global economy,” SMBC Aviation Capital CEO, Peter Barrett, said.
“We believe the sector will work together to address the current challenges to support economic recovery.”
