World Library  
Flag as Inappropriate
Email this Article

SMBC Aviation Capital

Article Id: WHEBN0028116033
Reproduction Date:

Title: SMBC Aviation Capital  
Author: World Heritage Encyclopedia
Language: English
Subject: List of Boeing 737 MAX orders, ALAFCO, Air Lease Corporation, International Lease Finance Corporation, Transaero
Collection: Aircraft Leasing Companies, Companies Based in Dublin (City)
Publisher: World Heritage Encyclopedia
Publication
Date:
 

SMBC Aviation Capital

SMBC Aviation Capital, formerly RBS Aviation Capital, is the world's fourth largest aircraft leasing company,[1] based in Dublin, Ireland.

Formerly part of the Royal Bank of Scotland Group, the company presently has ownership of 240 aircraft, with a further 79 orders placed with Airbus and Boeing, and has airline customers in over 40 countries.

History

During the Financial crisis of 2007–2010, the company cancelled an order for 25 Boeing 787 Dreamliner's, worth at least $3.8bn at list price.[2] In July 2010 at the Farnborough Airshow, it announced a $7.6bn order for 52 Airbus A320's and 43 Boeing 737-800's.[1]

As part of a restructuring of the RBS Group, the unit was classified as a non-core activity, and was scheduled to be sold. The sale was placed on hold in April 2010, pending "cyclical pickup in the aviation industry."[3] Several key managers left to join Avolon.[4]

On 17 January 2012 RBS announced it had agreed to sell the business to Sumitomo Mitsui Banking Corporation for $7.3bn (£4.7bn), with the sale expected to be completed by the end of the third quarter of 2012.[5] The sale completed on 1 June 2012 and the business was renamed SMBC Aviation Capital.[6]

In November 2014, SMBC acquired 80 Boeing 737 MAX planes from Boeing in its largest order ever. The deal was valued at more than $8.5 billion though it is believed that SMBC received significant discounts.[7]

References

  1. ^ a b "RBS business in $7.6bn jet order". BBC News. July 22, 2010. Retrieved July 22, 2010. 
  2. ^ Tracy Alloway (May 12, 2010). "Erstwhile Dreamliners of RBS Aviation". Financial Times. Retrieved July 22, 2010. 
  3. ^ Slater, Steve (April 28, 2010). "RBS aviation leasing arm sale put on ice - source". Reuters. Retrieved July 22, 2010. 
  4. ^ "2010-01-01". 2010-12-18. Retrieved 2010-12-18. 
  5. ^ http://www.rbs.com/media/news/press-releases/2011-press-releases/2012-01-17-aviation.ashx
  6. ^ The Irish Times http://www.irishtimes.com/newspaper/finance/2012/0602/1224317133549.html . 
  7. ^ "Japanese lessor SMBC Aviation Capital buys 80 Boeing 737 Max planes" (Press release). Reuters. 10 November 2014. 

External links

  • Official website
This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 



Copyright © World Library Foundation. All rights reserved. eBooks from World eBook Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.