SMBC Aviation Capital completes shareholder integration

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SMBC Aviation Capital has integrated the shareholders of its two other aircraft leasing companies, SMFL Aircraft Capital Corporation and Sumisho Aircraft Asset Management (SAAM), creating a combined entity with 326 owned and managed aircraft, valued at more than $10 billion.

The lessor will trade under the brand of SMBC Aviation Capital with its headquarters in Dublin, SMBC confirms in a release today.

The move brings in 13 additional clients, increasing SMBC's portfolio to 89 airline customers. The lessor's total headcount will also increase to 97 employees, says SMBC.

During the first quarter of this year, SMBC delivered two Airbus A320s to Thai Airways, two Airbus A319s aircraft to Sky Airline, two A320s to Garuda Citilink and one Boeing 737-800 aircraft to Skymark Airlines. It also delivered a 737-800 aircraft under a sale and leaseback agreement to GOL.

During the first three months of 2013, SMBC also inked a lease agreement with Peach Aviation for seven new A320 aircraft, which are due to be delivered between December 2013 and November 2015. It also agreed a sale and leaseback deal with Copa Airlines for four new 737-800 aircraft, which are due to be delivered throughout 2014.

SMBC also completed the sale of two 737-800s and one Airbus A320 aircraft in the first quarter.

Peter Barrett, chief executive officer of SMBC Aviation Capital, says: "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."