19th February 2018: SMBC Aviation Capital today announced that it has signed its most significant single deal to date in India with Jet Airways, India’s premier, full-service international airline. The transaction involves the sale and leaseback of 13 Boeing 737 MAX 8 aircraft with the first aircraft set to deliver in August 2018. The new aircraft will be powered by CFM International LEAP-1B engines.
SMBC Aviation Capital has worked with Jet Airways since 2004 and is currently leasing three B737-800 aircraft to the airline which were delivered in recent months. The new deal follows a competitive tender process.
Speaking on the conclusion of the transaction Peter Barrett, CEO, SMBC Aviation Capital said, “We are very pleased to conclude this transaction, our most significant MAX sale and leaseback to date. This transaction, which follows a competitive tender process, demonstrates our ability to provide innovative financing solutions to our customers. India is one of our fastest growing markets and we are pleased to extend our presence in the region with Jet Airways, which is one of our longest standing partners.”
CEO of Jet Airways, Mr. Vinay Dube added, “This agreement will facilitate a well-programmed induction of the much-awaited Boeing 737 MAX 8 aircraft to our fleet, helping us enhance operational efficiency and redefine our service experience on the back of growing air traffic demand in India.”