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BRIEF-SMBC Aviation says sees upward momentum on used aircraft lease rates
November 14, 2017 / 10:30 AM / 10 days ago

BRIEF-SMBC Aviation says sees upward momentum on used aircraft lease rates

Nov 14 (Reuters) - SMBC Aviation Capital CEO Peter Barrett:

* says seeing “some upward momentum” on used narrow-body aircraft lease rates; sees new aircraft lease rates stable

* says expects oil price strength to have positive impact on demand for new aircraft

* says sees some consolidation around new entrants to aircraft finance market over the next couple of years

* says base case for SMBC Aviation Capital is for organic expansion but will “keep a close eye on (acquisition) opportunities”

* Barrett speaking to Reuters after reporting $167 million profit before tax in H1 (6 months to Sept. 30) up 3.1 pct y/y

* SMBC has assets of $10.5 billion, comprising 278 owned and 174 managed aircraft; 14 pct of portfolio newest technology

* says commitment by shareholders to provide up to $1 billion in capital leaves company “well positioned to fund our future expansion” (Reporting By Conor Humphries)

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