[Sumitomo Mitsui Financial Group, Inc.]SMBC Aviation Capital orders Boeing aircraft(1/1)
November 10, 2014
Sumitomo Mitsui Financial Group, Inc.
Sumitomo Mitsui Finance and Leasing Company, Limited.
Sumitomo Mitsui Banking Corporation
SMBC Aviation Capital orders Boeing aircraft
Sumitomo Mitsui Banking Corporation (President: Takeshi Kunibe) and Sumitomo Mitsui Finance and Leasing Company, Limited (President: Yoshinori Kawamura), both subsidiaries of Sumitomo Mitsui Financial Group, Inc. (SMFG; President: Koichi Miyata), and Sumitomo Corporation (SC; President and CEO: Kuniharu Nakamura), referred to collectively as gthe Consortiumh, announce that SMBC Aviation Capital Limited (SMBC Aviation Capital; CEO: Peter Barrett), the worldfs third largest aircraft lessor, which is owned by the Consortium, has signed a contract with Boeing to purchase 80 737 MAX 8 aircraft. Those aircraft will be delivered between 2018 and 2022.
Boeing has confirmed that this order is the largest single 737 MAX 8 order ever placed by a lessor. The order should be taken as a clear sign of our commitment to the new generation aircraft, as well as our plans to continue to grow SMBC Aviation Capital.
Since June 2012 when the Consortium acquired SMBC Aviation Capital, our aim has been to capture the growing demand for new aircraft in emerging markets, in particular in Asia, by offering a broad range of higher-value-added financial services to airlines. In addition, we have been successful in leveraging the existing strengths of both SMFG and SC, which include a sound financial position, the capability to provide sophisticated financial solutions, a broad global client base, and advanced risk management practices. Today we are pleased to announce the order of 80 737 MAX 8s, which brings our total aircraft order for 2014 to 195. This is an important step forward on the path to realising the vision that we have for SMBC Aviation Capital.
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