Belfast Telegraph

Capital boost for airline leasing giant

By Staff Reporter

Dublin-based aircraft leasing giant SMBC Aviation Capital is set to receive a US$1bn (£0.78bn) capital boost from its Japanese owners within the next couple of weeks.

SMBC signalled recently that it was set for the $1bn injection before March next year.

But chief executive Peter Barrett said the capital should be received shortly and while there's no "specific intent" for the cash, it would leave the group in a position to pursue opportunities.

SMBC is owned by firms in Japan's Sumitomo Mitsui banking group.

"We're in a good position at the moment," said Mr Barrett. "Our shareholders have been very supportive of us.

"They like what we deliver to them. We thought it was timely to strengthen the balance sheet and position ourselves for opportunities that might come along."

He said that "potentially", future opportunities could include asset acquisitions from some of the relatively fledgling entrants to the leasing sector, especially in China.

Belfast Telegraph