Sumitomo : SMBC Aviation Capital orders Boeing aircraft
November 10, 2014 at 12:25 am EST
Share
Sumitomo Mitsui Banking Corporation (President: Takeshi Kunibe) and Sumitomo Mitsui Finance and Leasing Company, Limited (President: Yoshinori Kawamura), both subsidiaries of Sumitomo Mitsui Financial Group, Inc. (SMFG; President: Koichi Miyata), and Sumitomo Corporation (SC; President and CEO: Kuniharu Nakamura), referred to collectively as "the Consortium", announce that SMBC Aviation Capital Limited (SMBC Aviation Capital; CEO: Peter Barrett), the world's third largest aircraft lessor, which is owned by the Consortium, has signed a contract with Boeing to purchase 80 737 MAX 8 aircraft. Those aircraft will be delivered between 2018 and 2022.
Boeing has confirmed that this order is the largest single 737 MAX 8 order ever placed by a lessor. The order should be taken as a clear sign of our commitment to the new generation aircraft, as well as our plans to continue to grow SMBC Aviation Capital.
Since June 2012 when the Consortium acquired SMBC Aviation Capital, our aim has been to capture the growing demand for new aircraft in emerging markets, in particular in Asia, by offering a broad range of higher-value-added financial services to airlines. In addition, we have been successful in leveraging the existing strengths of both SMFG and SC, which include a sound financial position, the capability to provide sophisticated financial solutions, a broad global client base, and advanced risk management practices. Today we are pleased to announce the order of 80 737 MAX 8s, which brings our total aircraft order for 2014 to 195. This is an important step forward on the path to realising the vision that we have for SMBC Aviation Capital.
Sumitomo Corporation is a diversified group organized around 7 areas of activity:
- retail distribution of consumer goods (24.4% of net sales): food products, apparel and accessories, pharmaceuticals, building materials, household and decorative items, etc. The group is also developing a real estate business;
- trading of hydrocarbon, mining, chemicals and electronics products (24%): oil, natural gas, copper, gold, silver, zinc, lead, nickel, coal, iron ore, resins, pesticides, petrochemical products, etc.;
- trading of steel products and non ferrous metals (20%): flat and long steel products, tubular products, aluminum products, titanium, etc.;
- distribution of transportation and construction systems and equipments (15.1%): spatial equipments, landing fields, forest machines, motorcycles, mining operating vehicles, etc.;
- telecommunications and multimedia products and services supplies (8.8%): TV wiring, data communication solutions, film distribution services, mobile telephony, Internet access and computing services;
- development and implementation of civil engineering infrastructures (7.6%): power plants, wastewater treatment units, industrial plants, telecommunications centers, etc. The group is also providing logistics services;
- other (0.1%).
SUMITOMO CORPORATION 
