Boeing Co.

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SMBC Aviation Capital reports H1 profit fall; optimistic on 2021

Published: 11/18/2020 07:37 GMT
Boeing Co (BA) - Smbc Aviation Capital Reports H1 Profit Before Tax of $17.3 Million – Compared to $200 Mln in H1 FY19.
Says Supportive Ownership Puts It in a Position Not Only to Withstand Current Operating Environment But to Take Advantage of Opportunities.
Sees Sale and Leaseback Opportunities With Industry Leading Airlines That Will Deliver Significant Benefits to Our Current and Future Profitability and Portfolio Quality.
Optimistic That Through 2021, We Will Begin to See Confidence Restored in Aviation and the Fundamentals Will Begin to Reassert Themselves.
Reports $68 Million Increase in Provisions for Credit Losses and a $51 Million Increase in Asset Impairment Charges.
Reports Reduction of $3.9bn (65%) of Original Contracted Capex in FY2020 and FY2021 to $2.1 Billion Due to Oem Production Delays and Restructuring of Contracts .
Available Liquidity of $5.2 Billion From Diversified Funding Sources With a 12 Month Sources to Uses (excluding Operating Cash Flows) of 2.3 Times.
Says Has $3 Billion in Undrawn Financial Support From Owners As at September 30.