SMBC Aviation Capital signs four aircraft deal with Jeju Air

SMBC Aviation Capital, one of the world’s leading aircraft leasing companies has today announced that it has concluded a deal with Jeju Air for four Boeing 737-800 aircraft. This is the third portfolio deal that SMBC Aviation Capital has completed with Jeju Air over the past year and brings to eleven, the number of aircraft on lease to the airline.

Jeju Air is the largest low cost carrier based in Seoul, Korea. The aircraft will predominantly be used on international expansion out of both Seoul and Busan.

The first aircraft (MSN 35018) will deliver at the beginning of December with the additional three aircraft (MSN 37541, MSN 37540 and MSN 37543) expected to deliver before the end of March 2017.

Commenting on the conclusion of the deal, Peter Barrett CEO, SMBC Aviation Capital said, “We are very pleased to conclude our third portfolio deal with Jeju Air. Jeju Air is a valued customer and we look forward to building our relationship with the airline. This deal also increases our footprint in Asia, which is one of our key objectives.”

Ken Choi, CEO of Jeju Air added, “We are delighted to add these aircraft from SMBC Aviation Capital to our fleet as we expand our networks in line with our growth objectives. The B737-800 has proven to be a success in service with Jeju Air and we are pleased to have SMBC Aviation Capital’s experienced team working with us to achieve our fleet growth.”

The four aircraft will be delivered in Dublin, Ireland following transition.