A consortium of Sumitomo Corporation, SMBC Aviation Capital, and funds managed by Apollo and Brookfield agreed to buy Los Angeles-based Air Lease for $65 a share in cash. That values the equity at about $7.4 billion and the enterprise at about $28.2 billion. Air Lease moved under a new Dublin-based holding company, and SMBC Aviation Capital took over most aircraft servicing and the order book. The deal The merger agreement was signed on September 1, 2025. The $65 cash price was a 7% premium to Air Lease's all-time high close on August 28, 2025, a 14% premium to its 30-trading-day volume-weighted average price to August 29, and a 31% premium to its 12-month volume-weighted average price. Air Lease shares rose about 6.5% to $64.15 on September 2, the first trading day after the announcement, according to Reuters. SMBC, Citi and Goldman Sachs Bank USA provided $12.1 billion of committed financing. Goldman Sachs Japan and Citigroup Global Markets Japan advised Sumitomo Corporation, while Citigroup Global Markets Limited and Goldman Sachs International advised SMBC Aviation Capital. Ownership The buyer is Sumisho Air Lease Corporation DAC, a new Dublin holding company. Nikkei reported the stakes as 37.5% for Sumitomo Corporation, 25% for SMBC Aviation Capital and 18.8% each for Apollo and Brookfield. Toyo Keizai described Sumitomo's holding as more than 37% on an economic basis and put its investment at ¥300 billion. Air Lease's Series B, C and D preferred shares were not cashed out. Under the closing 8-K, they remain outstanding as preferred stock of the surviving company. Approvals and timeline Air Lease filed its proxy statement on November 4, 2025. At a special meeting on December 18, 2025, holders of about 80.7% of the outstanding Class A shares voted in favor. The company later reported in an 8-K that it had received the final regulatory approval needed to close. The deal closed on April 8, 2026, U.S. Eastern time, within the first-half 2026 target. Air Lease was delisted from the New York Stock Exchange that day and began operating as Sumisho Air Lease. Sumitomo Mitsui Financial Group and Sumitomo Mitsui Finance and Leasing announced completion of SMBC Aviation Capital's participation on the same date.
