Sumitomo Corporation expanded its aircraft leasing business and acquired a major US aircraft lessor together with US-based funds and others, raising its scale to become the world's second-largest. Senior Managing Executive Officer Kusaka Takao (日下 貴雄) expressed his ambition to make the business the world's largest.
Sumitomo Corporation is expanding its aircraft leasing business and significantly increasing its global scale in the sector. Under its current structure, the number of aircraft managed and ordered is reportedly the second-highest in the world. Senior Managing Executive Officer Kusaka Takao (日下 貴雄) indicated that the company aims to become the global leader as part of its future growth strategy.
In April, the company expanded its scale in collaboration with US-based funds, including through the acquisition of US peer Air Lease. This is creating a structure under which major lessors, including Air Lease, are brought under the Sumitomo Corporation group.
The company explained that scale is important for securing aircraft promptly when production of new aircraft is delayed. It outlined a policy of leveraging its scale, as manufacturers avoid small orders for individual aircraft.
Mr. Kusaka emphasized the intention to strengthen the business's competitiveness in global markets and reiterated Sumitomo Corporation's long-term vision of elevating its aircraft leasing business to the top tier worldwide.