In April 2026, Sumitomo Corporation (“SC”), SMBC Aviation Capital (“SMBC AC”), and funds managed by Apollo and Brookfield (together, the “LGIs”) completed their $7.4 billion acquisition of Air Lease Corporation (“Air Lease” or “AL”). The surviving entity was renamed Sumisho Air Lease Corporation (“SALC” or the company).
SALC is majority owned by SC and SMBC AC who together hold a 62.4% majority economic share and Apollo and Brookfield (together, the “LGIs”) who hold a minority ownership stake. SALC is managed under a servicer agreement by SMBC AC, the second largest aircraft lessor globally, with an owned, managed and committed fleet of 1,001 aircraft as of March 31, 2025.
Key Credit Considerations
The ratings reflect KBRA’s view of SALC as strategically important to its majority owners, SMBC AC (a leading global aircraft lessor that will act as servicer for the majority of SALC’s fleet) and SC (a Japanese conglomerate operating across…
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