16-Oct-2012 7:43 AM

SMBC Aviation Capital to merge with SMFL Aircraft Capital and Sumisho Aircraft Asset Mgt

SMBC Aviation Capital, the world’s fourth largest aircraft lessor, announced (15-Oct-2012) plans to merge its shareholders’ other aircraft leasing-related companies, SMFL Aircraft Capital Corporation and Sumisho Aircraft Asset Management, into its existing operation. The merging of the three entities will result in the value of SMBC Aviation Capital’s portfolio growing to over USD10 billion, with the number of owned and managed aircraft increasing from 240 to 331. The deal will also mean the addition of 13 new airline customers to SMBC Aviation Capital’s client base, and the company’s total headcount will be increased from around 70 to over 80 employees. Both SMFL Aircraft Capital Corporation and Sumisho Aircraft Asset Management are based in Amsterdam and will remain there following the merger. Subject to certain regulatory approvals being granted, the transactions are set to be completed in early 2013. SMBC Aviation Capital CEO Peter Barrett commented, "We believe that there is likely to be further consolidation in the aircraft leasing industry in the future, and that this transaction will help position us to take advantage of that trend.” Sumitomo Mitsui Finance and Leasing CEO Yoshinori Kawamura added, “This merger should be taken as a sign of our strong commitment to the aircraft leasing business and, with SMBC Aviation Capital at the centre of our activities in this area, we intend to continue to expand our footprint in the sector.” [more - original PR]

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