Hong Kong, June 25 -- 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.
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 trav...