COVID-19 ‘Market Dislocation’ Causes SMBC Profits To Plummet
Credit: SMBC Aviation Capital
Aircraft lessor SMBC Aviation Capital’s interim pre-tax profit for the first half (H1) has fallen to $17.3 million—less than a tenth of the $200 million profit the company posted for H1 2019. SMBC said the decline was driven by airlines restructuring leases and entering Chapter 11 proceedings. “We...
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