SMBC Aviation Capital
Dublin-based aircraft lessor owned by Japan’s Sumitomo group, which completed the take-over of Air Lease Corporation in April 2026, creating Sumisho Air Lease.
Business at a glance
Dublin-based aircraft lessor owned by Japan’s Sumitomo group, which completed the take-over of Air Lease Corporation in April 2026, creating Sumisho Air Lease.
Footprint: 493 owned aircraft, 764 serviced and 629 committed (1,886 in total) in the July 2026 fact sheet; 170 airline and investor customers in more than 50 countries. 90% of the owned fleet is narrowbody.
Latest figures
Source: SMBC Aviation Capital results for the year ended 31 March 2026 (27 May 2026). US$. Liquidity was over US$15bn at 31 March 2026.
Fleet
SMBC Aviation Capital reports “serviced” aircraft (managed for others) and “committed” aircraft (orders and purchase commitments) alongside its owned fleet.
| Category | Aircraft | Detail |
|---|---|---|
| Owned | 493 | Average age 5.4 years; 80% new technology by net book value |
| Serviced | 764 | Aircraft managed for other owners |
| Committed | 629 | Orders and purchase commitments |
| Total | 1,886 | 170 customers, over 50 countries |
Operating detail
Year ended 31 March 2026 · annual report published 16 October
- Balance sheet
- US$25,542.9m total assets and US$6,387.7m total equity.
- Cash
- US$888.7m cash and cash equivalents at year end.
- Organisation
- 309 employees across 12 global locations.
- Servicing model
- The April 2026 Air Lease transaction expanded the serviced portfolio. Serviced assets are not the same as aircraft owned on SMBC Aviation Capital’s balance sheet.
Sources: 2026 Annual Report and Executive Review.
Performance over time
Financial years · year ended 31 March
Consolidated figures for SMBC Aviation Capital Limited (the Irish company and its subsidiaries) in US$ million. The financial year ends on 31 March.
Lease revenue
Profit before tax (reported)
Profit before tax excl. Russia insurance settlements
Charts use annual results. Gaps indicate values the company does not publish on the same basis; the table shows the annual series.
Full-year history
Values as published by the company, in US$ million unless stated. Scroll horizontally on smaller screens.
| Indicator / unit | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Lease revenueUS$m · Financials | 1,906.9 | 1,934.6 | 1,973.0 |
| Profit before tax (reported)US$m · Financials | 1,194.6 | 1,172.8 | 707.0 |
| Profit before tax excl. Russia insurance settlementsUS$m · company basis · Financials | 459.8 | 562.8 | 677.0 |
| Profit after taxUS$m · Financials | 1,034.7 | 993.9 | 599.8 |
| Total assetsUS$m · 31 March · Balance sheet | 24,104.5 | 24,957.8 | 25,542.9 |
| Total equityUS$m · 31 March · Balance sheet | 5,052.3 | 5,892.6 | 6,387.7 |
| Average fleet ageyears · weighted · Fleet | 5.5 | 5.6 | 5.4 |
What the numbers say
Underlying pre-tax income, which excludes insurance settlements for aircraft stranded in Russia, has grown from US$460m to US$677m in two years. Reported profit before tax fell to US$707m in the year to March 2026 because the large Russia settlements of earlier years did not recur.
Lease revenue grew slowly, by about 3.5% over two years, while the company sold more aircraft (74 in the latest year) than it took delivery of (59). The Air Lease take-over, completed in April 2026, falls in the next financial year.
Sources and comparability
- FY2024 and FY2025 figures are from the audited accounts in the 2025 annual report; FY2026 figures are from the results release of 27 May 2026. Rows the release does not give are left blank until the FY2026 annual report is published.
- FY2026 profit before tax excluding Russia insurance settlements (US$677m) is the CFO’s figure in the release; it is US$114m above FY2025’s US$562.8m, which matches the release’s 20% growth.
- The 430 aircraft on order in the release are new-technology aircraft; the fact sheet’s 629 committed aircraft is a wider measure. The fact sheet does not say whether it includes Sumisho Air Lease.
What drives the leasing business
Integration of Air Lease (now Sumisho Air Lease) into the Sumitomo leasing platform, completed in April 2026.
The order book of 430 new-technology aircraft (US$26bn), 90% of which is placed with airlines through early 2028.
Aircraft trading: SMBC sold 74 aircraft in the latest year, more than the 59 new aircraft it took.
Source and method
This profile uses the company’s own published figures. Lessors report in different currencies, financial years and scopes (group, subsidiary or a parent’s leasing segment), and several publish profit measures that exclude Russia-related insurance recoveries. Each figure keeps the company’s own label; nothing is converted or annualised. Values that are not disclosed are left blank rather than estimated.
Read the latest official results ↗Next results date: earnings calendar.
Follow SMBC Aviation Capital
Create a free account to follow SMBC Aviation Capital and get an email when it publishes new results, or compare it with the other aircraft lessors.