SMBC Aviation Capital concludes two aircraft deal with new customer Philippine Airlines

Philippine Airlines (PAL) and SMBC Aviation Capital have concluded a transaction for two Airbus A350-900 XWB on sale and leaseback which includes the financing of Pre-Delivery Payments to Airbus. The aircraft, which will be the first of its type to be added to the PAL fleet, are scheduled for delivery in 2018 and will be fitted with Rolls Royce Trent XWB-84 engines. The addition of the A350 XWB forms part of the airline’s fleet modernization program. Speaking on conclusion of the transaction, PAL President and Chief Operating Officer Jaime J. Bautista said, “We are very pleased to conclude this transaction