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SMBC Aviation Capital, Sumitomo Corporation, Apollo and Brookfield announced on Sept. 2 that they would acquire Air Lease Corporation to fortify their position as the world’s second largest aircraft lessor in an all-cash deal valued at $7.4 billion or $28.2 billion including debt obligations.
The acquisition is a continuation of the sector’s long series of roll ups and deals as the aircraft leasing business matures and commoditizes. Aircraft financiers are seeking the lowest cost of capital with increasing scale and facing scarce delivery positions in a jetliner market still constrained by aircraft and engine OEMs and broader supply chains.
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