Sumitomo, SMBC Aviation, Apollo, and Brookfield to Acquire Air Lease Corporation in $28.2B Deal
Sumitomo Corporation, SMBC Aviation Capital, Apollo-managed funds, and Brookfield have reached an agreement to acquire Air Lease Corporation, the Los Angeles-based aircraft lessor founded by Steven F. Udvar-Házy and John L. Plueger. The deal values Air Lease at approximately $7.4 billion in equity, or $28.2 billion including debt, with shareholders set to receive $65 per share in cash—a 14% premium to the 30-day volume-weighted average ending August 29, 2025.
Upon completion, Air Lease will be renamed Sumisho Air Lease, a new entity designed to expand Sumitomo’s global aviation platform. The partnership will be supported by Apollo and Brookfield’s capital strength and complemented by Air Lease’s fleet, which is heavily weighted toward new-technology aircraft.
“Through this transaction, we will achieve greater scale and profitability, positioning the Sumitomo Corporation Group’s aircraft leasing business as one of the largest globally in terms of owned and managed aircraft through Sumisho Air Lease’s highly attractive portfolio centered on new tech aircraft,” said Takao Kusaka, Group CEO, Transportation & Construction Systems Group of Sumitomo Corporation.
Apollo partner Jamshid Ehsani added that Apollo will contribute its aviation expertise through Perseus Aviation, bringing the firm’s full ecosystem to support the integration and growth of the business.
To finance the acquisition, SMBC, Citi, and Goldman Sachs Bank USA have committed $12.1 billion. A range of top financial and legal advisors are supporting the transaction, including Goldman Sachs International and Citigroup Global Markets Limited for SMBC Aviation, Goldman Sachs Japan and Citigroup Global Markets Japan for Sumitomo, and Milbank LLP for Apollo and Brookfield.
The deal is expected to close in the first half of 2026.
Connect Money will spotlight rising stars who have made a valuable contribution to the alternative investment industry. Based on your nomination, we will recognize professionals who have significantly influenced both the workplace and community. The deadline is September 10. Click here to submit your nominations.