Dublin – 20 December 2012: SMBC Aviation Capital, the world’s fourth largest aircraft lessor, today provides an update on its operational activity since being acquired for $7.3bn by a consortium of Sumitomo Mitsui Finance and Leasing Co., Ltd. (“SMFL”), Sumitomo Mitsui Banking Corporation (“SMBC”), and Sumitomo Corporation on1 June 2012.

Highlights of the period included:
Ø Official launch of the business in both Tokyo and Dublin
Ø Merger with new shareholders’ other aircraft leasing-related companies progressing well
Ø Three new customers added
Ø 17 aircraft delivered, 17 aircraft sold, and lease agreements signed for the delivery or extension of 10 aircraft

Commenting on the recent activity, Peter Barrett, CEO of SMBC Aviation Capital, said:
“SMBC Aviation Capital’s first half-year of existence has been an exciting and eventful period for everyone connected with the company. The platform’s integration with our new shareholders was completed successfully and swiftly, and we have already made substantial headway in merging our new shareholders’ other operating leasing assets into what is now an extremely robust, well diversified and strongly positioned business. It is also particularly pleasing to be able to report that, in and amongst the substantial corporate activity of the past six months, the company’s underlying operations have continued to go from strength to strength. All in all, given the demonstrable commitment of our new shareholders, the resilience of the aircraft leasing sector and our strong standing within it, we are confident of delivering further growth and development in 2013 and beyond.”

LAUNCH & MERGER:
SMBC Aviation Capital was officially launched in Tokyo on October 15 and, on the same day, the company announced plans to merge its shareholders’ other aircraft leasing-related businesses, SMFL Aircraft Capital Corporation and Sumisho Aircraft Asset Management, into its existing operations. The integration process has subsequently started and is progressing well, and is anticipated to be completed by the end of Q1 2013.

The merging of the three entities will result in the value of SMBC Aviation Capital’s owned and managed portfolio growing to over $10bn, with the number of aircraft increasing from 240 to 331. The deal will mean the addition of 13 new airline customers to SMBC Aviation Capital’s client base, and the company’s total headcount will also be increased. Both SMFL Aircraft Capital Corporation and Sumisho Aircraft Asset Management are based in Amsterdam and will remain there following the merger.

The company’s Dublin launch took place on October 17 and was attended by a number of leading industry and political figures, including Minister for Finance Michael Noonan and the Japanese Ambassador to Ireland, Mr Chihiro Atsumi.

ONGOING OPERATIONS:
New customers:
The company added three new customers during the period: in October it delivered one A320-200 to Zest Airways in the Philippines; and in November it signed a lease for the placement of one managed Boeing B737-700 to Georgian Airways, which delivered this month. The company also placed one A320-200 on lease to Italian charter airline New Livingston.

Deliveries:
Including the above deliveries to new customers, SMBC Aviation Capital has delivered 17 aircraft over the past six months: four new Airbus A320-200s from the company’s order stream were delivered to Thai Airways, one in June, two in August, and the fourth in September; three Boeing B737-800s were delivered from the company’s direct order stream to Virgin Australia in July, September and October; two Boeing B737-800s were delivered to P.T. Garuda of Indonesia, the first in November and the second in December; two Boeing 737-800s were delivered in November to Nok Air of Thailand; two Boeing 737-800 were delivered to GOL (VRG Linhas Aereas SA) in November and December respectively, the first two of an eight aircraft sale and leaseback transaction; and one Airbus A320-200 was delivered in November to Ural Airlines of Russia.

Sales:
The company sold 17 aircraft to three different buyers over the period: three Boeing B737-800s, two Airbus A321-200s, one Airbus A319-100 and 12 Airbus A320-200s.