Dublin's SMBC sees record profits on scramble for aircraft and Russia insurance payout

The world's second-largest aircraft leasing firm SMBC owns just under 1,000 planes, with a further 271 aircraft on order with Airbus and Boeing

SMBC received cash insurance settlements related to 16 aircraft leased to Russian airline Aeroflot after Moscow refused to release jets. Picture: Andrey Rudakov/Bloomberg

Dublin-headquartered aircraft leasing firm SMBC has delivered record profits as airlines and investors globally scramble for aircraft.

In the year to the end of March, the firm recorded a profit before tax of $460m (€422.8m), up 35% year-on-year. This was on the back of a surge in leasing revenues, up 41% to $1.9bn (€1.7bn).