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SMBC Aviation Capital closes merger with SMFL Aircraft Capital and Sumisho Aircraft Asset Management

3-Apr-2013 7:46 AM

SMBC Aviation Capital announced (02-Apr-2013) the completion of the previously announced merger with SMFL Aircraft Capital Corporation B V and Sumisho Aircraft Asset Management B V. The company said the combination of aircraft leasing businesses completed the integration with its shareholders’ other aircraft leasing companies, SMFL Aircraft Capital Corporation B V and Sumisho Aircraft Asset Management (SAAM). The combined entity is now the third largest global aircraft lessor with a fleet of 326 owned and managed aircraft valued at over USD10 billion. The business will trade under the one brand of SMBC Aviation Capital with its headquarters in Dublin. The deal will also mean the addition of 13 new airline customers to SMBC Aviation Capital’s client base bringing the total to 89, and the company’s total headcount will be increased to 97 employees. Commenting on the transaction, SMBC Aviation Capital CEO Peter Barrett said: “This is a very positive development for the stakeholders of all three entities. The combination of the businesses further bolsters the strength of the existing platforms, and is a significant step in terms of SMBC Aviation Capital’s ambitious plans for the future. The transaction is a sign of our Shareholders’ strong commitment to the aircraft leasing sector and to SMBC Aviation Capital. It positions the business to deliver increased value to all of our airline customers, investor partners, and suppliers". [more - original PR]