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4h ago

Sumitomo/SMBC-Led Group to Acquire Air Lease for $65 a Share in All-Cash Deal

Financing is fully committed at $12.1 billion, with closing targeted for the first half of 2026 pending required approvals.

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Air Lease Corp., the aviation finance firm built by industry pioneer Steven Udvar-Házy of Beverly Hills, above in this Oct. 17, 2017, photo, agreed to a $7.4 billion sale to a group led by Sumitomo Corp., adding to consolidation in an industry that plays an increasingly important role in aircraft purchases. (Axel Koester for The New York Times)
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Overview

  • The agreement values Air Lease at about $7.4 billion in equity, or roughly $28.2 billion including assumed or refinanced debt, delivering a premium to recent trading levels including 31% over the 12‑month average.
  • Upon completion, the company will be renamed Sumisho Air Lease under a Dublin holding structure, with SMBC Aviation Capital set to acquire Air Lease’s order book and serve as portfolio manager.
  • SMBC, Citi and Goldman Sachs Bank USA have provided $12.1 billion of committed financing, and the buyers state the transaction is not subject to a financing contingency.
  • Air Lease’s board unanimously approved the deal, certain directors and executives agreed to vote in favor, and closing remains subject to shareholder and competition regulator approvals expected by H1 2026.
  • Brodsky & Smith opened a shareholder investigation into the sale process and valuation, as SMBC characterizes the combination as transformational for scale in global aircraft leasing.