SMFL to acquire joint stake in SAEL

Sumitomo Mitsui Finance and Leasing (SMFL) and Sumitomo have reached an agreement through which SMFL will acquire 65% of the shares of Sumisho Aero Engine Lease (SAEL) from Sumitomo. The acquisition still needs to be approved by the relevant authorities. Once approved and the deal is finalised, SMFL and Sumitomo intend to expand the scale of SAEL’s operations and raise its profile in the rapidly growing airline industry by broadening the scope of their aviation businesses in partnership with other companies in SMFL and its shareholder group, including aircraft lessor SMBC Aviation Capital. SAEL is a joint-venture company established in