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Finance

Asian aircraft lessors' Russia losses top $1bn, led by SMBC Aviation

Most Chinese players yet to report impact of Western sanctions

SMBC Aviation's parent reported an 81.96 billion yen ($635 million) of Russia-related extraordinary loss for the financial year ended in March.   © Reuters

HONG KONG -- Asian aircraft lessors' losses in Russia have risen to nearly $1.2 billion after Japan's SMBC Aviation Capital, the player with the biggest exposure to the sanctions-hit country, reported the industry's latest financial damage from the Ukraine war.

SMBC Aviation's parent, Sumitomo Mitsui Finance and Leasing (SMFL), on Friday announced an 81.96 billion yen ($635 million) Russia-related extraordinary loss for the financial year ended in March.

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