SMBC AVIATION CAPITAL: Update on the integration of SMFL Aircraft Capital Corporation and Sumisho Aircraft Asset Management, and recent trading activity

Dublin – 2 April 2013: SMBC Aviation Capital, the world’s third largest aircraft lessor, announces the completion of the previously announced merger (15 October 2012) with SMFL Aircraft Capital Corporation B.V. and Sumisho Aircraft Asset Management B.V. It is also providing an update today on operational activity for the first quarter of 2013.

COMBINATION OF AIRCRAFT LEASING BUSINESSES COMPLETED

SMBC Aviation Capital has completed the integration with its shareholders’ other aircraft leasing companies, SMFL Aircraft Capital Corporation B.V. and Sumisho Aircraft Asset Management (SAAM). The combined entity has a modern fleet of 326 owned and managed aircraft valued at over $10bn and will trade under the one brand of SMBC Aviation Capital with its headquarters in Dublin.

The deal will also mean the addition of 13 new airline customers to SMBC Aviation Capital’s client base bringing the total to 89, and the company’s total headcount will be increased to 97 employees.

Commenting on the transaction, Peter Barrett, CEO of SMBC Aviation Capital, said:

“This is a very positive development for the stakeholders of all three entities. The combination of the businesses further bolsters the strength of the existing platforms, and is a significant step in terms of SMBC Aviation Capital’s ambitious plans for the future. The transaction is a sign of our shareholders’ strong commitment to the aircraft leasing sector and to SMBC Aviation Capital. It positions the business to deliver increased value to all of our airline customers, investor partners, and suppliers.”

RECENT ACTIVITY

Deliveries
During the first quarter of 2013 the company made the following deliveries:
Two new Airbus A320-200 aircraft on lease to Thai Airways
Two Airbus A319-100 aircraft on lease to Sky Airline
Two new Airbus A320-200 aircraft on lease to Garuda Citilink
A new Boeing B737-800 aircraft on lease to Skymark Airlines
A new Boeing B737-800 aircraft on Sale Leaseback to GOL

Lease agreements
During the period the company signed lease agreements with:
Peach Aviation for seven new A320-200 aircraft which are due to be delivered between December 2013 and November 2015
Compania Panamena de Aviacion S.A. (COPA) for the Sale Leaseback of four new B737-800 aircraft, which are due to be delivered throughout 2014

Sales
During the period the company sold two Boeing B737-800 aircraft and one Airbus A320-200 aircraft