Mitsubishi HC Capital's aviation businesses full year profit rises

Mitsubishi HC Capital's aviation businesses saw a gross profit of 49.1bn yen ($317.1 million) in its full financial year results, up 15.5% from 33.6bn yen ($216.98 million) in the previous financial year. Its aviation sector includes Engine Lease Finance Corporation (ELFC) Jackson Square Aviation (JSA). Its gross profit increased due to ""an increase in leasing revenues associated with market recovery, increased assets, the improvement of engine utilisation rates"" and a ""decrease in impairment losses,"" Mitsubishi HC Capital said. Its segment assets increased to 2.02 trillion yen ($13.02bn) at the end of the financial year, up from 1.64 trillion yen ($10.6bn) in the previous year. JSA's segment assets were at 1.43 trillion yen ($9.2bn), up from 1.2 trillion yen ($7.7bn) the previous year, while ELFC's were at 527.3bn yen ($3.4bn), up from 366.5bn yen ($2.4bn). Segment assets increased with the execution of new leasing transactions of aircraft and engines, and the impact of exchange rates. JSA sold 11 aircraft throughout the year, up from six year-on-year (YoY) and it purchased 32 aircraft, up 19 YoY. At the end of the financial year, it had 220 aircraft, up 21 from the end of the previous financial year. ELFC's number of engines at the end of the financial year was 411, up from 347 at the end of the previous financial year.