What Happened
Japanese Conglomerate Acquires Air Lease Corporation in $7.4 Billion Deal
Sumitomo Corporation has acquired Air Lease Corporation, a leading aircraft leasing company, in a $7.4 billion deal. The acquisition makes Sumitomo one of the world’s largest aircraft leasing companies and expands its global presence in the aviation industry. The company aims to enhance corporate value through its broader aviation platform, which includes aircraft leasing, maintenance, modification, trading, and parts reuse. According to the company, the acquisition was first reported by Sumitomo Corporation.