SMBC Aviation Capital Joins Acquisition of Air Lease Corporation, Strengthening Affiliate's Position in Aircraft Leasing Industry

Reuters
Sep 02
SMBC Aviation Capital Joins Acquisition of Air Lease Corporation, Strengthening Affiliate's Position in Aircraft Leasing Industry

SMBC Aviation Capital, an affiliate of Sumitomo Mitsui Financial Group Inc., announced its participation in the acquisition of the U.S.-based Air Lease Corporation. The acquisition will be executed through a newly formed entity, Sumisho Air Lease Corporation, which will be jointly owned by SMBC Aviation Capital, Sumitomo Corporation, Apollo managed funds, and Brookfield. SMBC Aviation Capital will hold a 4.99% voting-rights stake and a 24.99% economic-interest stake in the new entity. As part of the acquisition, SMBC Aviation Capital will acquire Air Lease Corporation's aircraft on order and will serve as the asset servicer for most of Sumisho Air Lease's fleet, solidifying its standing in the aircraft leasing sector.

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