SMBC Aviation Capital receives $445m settlement for terminated Russian contracts

SMBC expects to record equity gains of affiliated companies amounting to $250m.

Sumitomo Mitsui Financial Group announced that its subsidiary SMBC Aviation Capital Limited has received an insurance settlement of $445m, subject to approval by the Irish courts.

The proceeds are part of a settlement with some insurance companies.

SMFG expects to record equity gains of affiliated companies in the amount of about $250m in the consolidated financial results for the fiscal period ending March 2025.

In the fiscal year 2022, SMBC Aviation Capital had terminated all lease contracts with Russian airlines. This came after sanctions were imposed on Russia by the European Union, the United States, the United Kingdom, and other countries due to Russia’s invasion of Ukraine.

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Sumitomo Mitsui Banking Corporation

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