Dublin-based aircraft leasing company SMBC Aviation Capital has reported higher pre-tax profits and income for the six months to the end of September.

SMBC Aviation Capital said its pre-tax profits rose by 18% to $200m from $168m the same time last year.

It also said its lease revenue and other operating income increased by 13% to $597.4m from $530m.

The company said its aircraft assets value rose by 10% to over $12.4 billion, comprising 237 owned aircraft and pre-delivery payments. 

The average age of its fleet stands at 4.2 years.

It is expecting the delivery of 17 aircraft, including two 2 A320s, one A321, 13 A320 NEOs and one B787

During the six month period, SMBC also announced the sale of 16 owned aircraft, with an average age of 7.3 years. 

It also signed contracts to sell a further 15 aircraft with an average age of 10.7 years.

In its results statement, SMBC said that ongoing co-operation with its shareholders continues to reap benefits in selling aircraft into the Japanese market, the largest standalone aircraft investment market globally.

Peter Barrett, CEO of SMBC Aviation Capital, said that successful implementation of its strategy and relentless focus on building long-term customer relationships has resulted in growth of its leasing business and continued interest from trade investors in acquiring assets. 

"This has allowed us to deliver a strong financial performance in the first half of the year, demonstrating our ability to deliver profitable growth," Mr Barrett said.

Mr Barrett noted that the global aviation industry is continuing to face some challenges. 

"Our young, fuel-efficient fleet and close collaboration with the aircraft manufacturers, combined with a strong track record over 18 years of delivering a disciplined strategy, means we are confident that we can continue to deliver further growth now and into the future and respond flexibly to changing market dynamics," he added.