Sumitomo to Combine Aircraft Leasing Units

The Wall Street Journal reported that Sumitomo plans to merge its aviation divisions with recently acquired RBS Aviation Capital to create one of the world’s top commercial aircraft leasing operations.

The Journal said Sumitomo will increase the unit’s fleet size to 331 planes by combining it with existing Sumitomo lessors. The company’s Sumitomo Mitsui Banking unit recently acquired RBS Aviation, with a fleet of 203 airliners from Royal Bank of Scotland and renamed the operation SMBC Aviation Capital.

SMBC Aviation now will rank behind GE Capital Aviation Services, the world’s largest aircraft lessor, with more than 1,600 planes, according to Ascend. No. 2 International Lease Finance has more than 1,000 planes, followed by BBAM LLC, with about 425 planes.

To read the Wall Street Journal story click here.