SMBC Aviation Capital reported a profit before tax of $341m in the 2022-23 financial year.
The Dublin-based leasing company said it "integrated 71 aircraft" into its fleet, an influx that equated "to over $3.3bn of organic asset growth" and left it with a portfolio of "63% new technology aircraft" by net book value. During the year the company closed sales of 36 aircraft, as well as the acquisition of Goshawk, a deal SMBC said meant "cementing [its] position as a market leader".
By year-end, the lessor had $24bn in assets and $9bn in available liquidity. During the year, the company closed a $2.1bn facility with Japan Bank for International Cooperation and a $2.54bn syndicated facility with 32 global banks.
“SMBC Aviation Capital has further strengthened its competitive position over the last 12 months, and we are strongly placed to take advantage of the ongoing recovery in the global aviation industry," said Peter Barrett, chief executive.
"Today, we are a business combining balance sheet scale with a high-quality, narrow body focused asset base and efficient access to capital, which places us in a unique position to deliver strong long-term profitable growth in the years ahead," Barrett added.
SMBC Aviation Capital has appointed Noriyuki (Nori) Hiruta as the new Chairman of the Board.
Hiruta assumed the position of Chairman of SMBC Aviation Capital in May 2023, having previously served as general manager of the lease and business development department at Sumitomo Corporation (SC) Tokyo.
Hiruta succeeds Tom Tanaka, who has served as Chairman since 2020. Hiruta has held a number of roles in SC, including general manager of the aircraft & engine leasing department and general manager of the aerospace business department SC Europe. He was also a key member of the acquisition team that managed the takeover of SMBC Aviation Capital from RBS in 2012 while working as joint general manager of the aviation capital department at Sumitomo Mitsui Finance & Leasing (SMFL).
“Nori has an impressive track record of delivering growth at Sumitomo Corporation and his counsel will be invaluable as we extend our leading position in the sector and deliver positive change for our customers, the industry and wider society," said Barrett. "On behalf of the Board, I would like to thank Tom Tanaka for his guidance and support during his role as Chairman of SMBC Aviation Capital. We wish Tom every success in his future role.”
Hiruta commented: “After two decades of growth and transformation, SMBC Aviation Capital is entering the most exciting period in its history and it’s my great pleasure to take on the role of Chairman at this pivotal time. I have immense confidence in the company’s leadership team, strategy and potential and look forward to supporting the business in this next phase of its growth.”