Japan-based Sumitomo Corp acquired US-based Air Lease Corp for USD 7.4 bn, Bloomberg reported last week. The total price, including debt obligations, amounts to USD 28.2 bn, whereas the purchase price represents an 8% premium over Air Lease’s last closing price.

Who’s involved? Among the buyers are Ireland-based leasing firm SMBC Aviation Capital and asset management outfits Apollo and Brookfield. Air Lease Group — which reportedly owns 544 aircraft — will be renamed Sumisho Air Lease and its orderbook of 260 aircraft will be transferred to SMBC Aviation.

ADVISORS- J.P. Morgan Securities is serving as Air Lease’s financial advisor, with Skadden Arps Slate Meagher and Flom as counsel, according to a press release published last week.

Not their first rodeo: SMBC Aviation Capital — itself owned by Sumitomo Mitsui Financial Group and Sumitomo Corp — acquired rival aircraft lessor Goshawk Management in 2022. The firm agreed to acquire Goshawk for an enterprise value of USD 6.7 bn.

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