SMBC Aviation Capital

SMBC Aviation Capital, formerly RBS Aviation Capital, is one of the world's largest aircraft leasing companies. It is owned by a consortium of leading Japanese institutions, Sumitomo Mitsui Banking Corporation (SMBC), Sumitomo Mitsui Finance and Leasing Company Limited (SMFL) and Sumitomo Corporation. Headquartered in the International Financial Services Centre in Dublin and with locations in Amsterdam, Beijing, Hong Kong, New York, Seattle, Miami, Shanghai, Singapore, Tokyo and Toulouse, the company employs 160 people.

The company currently has a portfolio of 453 aircraft (273 owned and 180 managed) with a further 203 aircraft on order from Airbus and Boeing, made up of a mix of A320neos , A320-200s, B737-800s and B737 MAXs. It has more than 150 airline customers in over 50 countries worldwide, including a range of traditional carriers alongside start-up airlines.

Its strategy is to own and lease technologically-advanced, efficient and frequently-used aircraft types. SMBC Aviation Capital maintains a young fleet with an average weighted age of 4.7 years, one of the youngest in the industry. The company has one of the highest ratings in the aircraft leasing industry with a BBB+ rating from Fitch.

The company is now in its 15th year in business. In July 2016, the company completed a debut $500 million unsecured notes offering, which was eight times over-subscribed.

The company was founded in 2001 and became RBS Aviation Capital in 2004. By 2005, it had taken delivery of its 200th aircraft and began to build a global presence with new locations in Toulouse and Seattle, with expansion into South East Asia in 2007. 2009 saw the completion of its first export financing deal and also the location of a representative in Beijing. In 2012, it was acquired by a consortium of Japanese institutions, Sumitomo Mitsui Banking Corporation (SMBC), Sumitomo Mitsui Finance and Leasing Company Limited (SMFL) and Sumitomo Corporation for $7.3 billion which was the largest ever global sale of an aircraft leasing business. The sale completed on 1 June 2012 and the business was renamed SMBC Aviation Capital.

In 2014, the company placed substantial orders for new aircraft with Boeing and Airbus, representing future commitments of close to $20 billion, comprising 110 A320neo aircraft and five A321ceo aircraft from Airbus, for delivery between 2017 and 2022, and 80 B737 MAX 8 aircraft from Boeing, for delivery between 2018 and 2022. The deal was valued at more than $8.5 billion. The company also received its first credit ratings of BBB+ from S&P and BBB from Fitch.

In 2015, Fitch ratings upgraded the company from BBB to BBB+ making it one of the highest rated lessors in the industry. In 2015, the company also set up a €600million revolving credit facility.

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