Airlines SMBC agrees on sale and leaseback agreement with Easyjet

  • easyJet

SMBC Aviation Capital has announced, it has agreed with carrier Easyjet on a sale and leaseback agreement for six Airbus aircraft.

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The agreement between SMBC Aviation Capital and Easyjet sees a sale and leaseback agreement being applied for six Airbus A320neo aircraft (MSNs 8243, 8304, 9110, 9105, 9111, 9171). The aircraft are between six months and two years old.

Agreements for thee of the aircraft were concluded in early June, with the remaining three aircraft being contracted now. In these challenging surroundings, Easyjet has opted to leaseback these aircraft, mainly because it is more cost efficient for them.

Peter Barrett, Chief Executive Officer, SMBC Aviation Capital said, “We are delighted to sign this sale and leaseback agreement with easyJet building on our long-term partnership with the airline. This transaction highlights how SMBC Aviation Capital can effectively leverage its strong capital position and industry leading credit rating to offer flexible long-term financing solutions to its customers facing the most challenging of circumstances.”

Easyjet is one of the largest low-cost carriers in Europe. The group, which consists of several subsidiary airlines, employed around 15,000 people pre-COVID-19. Main headquarters are located in London Luton.

The group´s consists of Easyjet, Easyjet Europe and Easyjet Switzerland. The all-Airbus fleet consists of 123 Airbus A319s, 169 Airbus A320CEOs, 35 Airbus A320NEOs and 13 Airbus A321NEOs. Easyjet was initially founded in the United Kingdom in 1995, 25 years ago.

SMBC Aviation Capital is a large aircraft lessor company and is currently having 720 owned, managed and committed aircraft in its fleet. The company is working closely with shareholders Sumitomo Mitsui Financial Group and Sumitomo Corporation.

The company has its headquarters in Dublin, Ireland and currently employs 160 people. In 1994, SMBC was founded as International Aviation Management Group. In 2012, the company was acquired by the Japanese consortium and was rebranded to SMBC Aviation Capital.

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