Aviation Capital agrees deal with easyJet for six planes

Dublin-based aircraft lessor said deal is a sale and leaseback agreement with the carrier

Aviation Capital  concluded a sale and leaseback agreement for six aircraft with easyJet. Photograph: Gareth Fuller/PA

Aviation Capital concluded a sale and leaseback agreement for six aircraft with easyJet. Photograph: Gareth Fuller/PA

 

Dublin-based aircraft lessor Aviation Capital has concluded a sale and leaseback agreement for six A320neo aircraft with easyJet.

The agreement involves aircraft which vary in age from six months to two years. Agreements for three of these aircraft were concluded in early June, with the remaining three aircraft contracted this week.

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.”

Aviation Capital is one of the top five aircraft lessors globally, with a fleet comprising 720 owned, managed and committed aircraft, and benefits from a close relationship with its shareholders Sumitomo Mitsui Financial Group and Sumitomo Corporation. It has a strong capital position and holds the joint highest credit rating out of all aircraft leasing companies.

The company is based in the IFSC in Dublin and has been in operation since 2001. It was acquired in 2012 by a consortium comprising of two of Japan’s biggest companies, SMFG and Sumitomo Corporation.