Global aircraft lessor SMBC Aviation Capital has entered into a sale and leaseback of 13 Boeing 737 MAX 8 aircraft with Indian full-service carrier Jet Airways.
The airline will start taking deliveries of the aircraft from August 2018.
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,” said Peter Barrett, CEO, SMBC Aviation Capital, while adding, “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.”
The deal is SMBC Aviation Capital’s largest deal in India and it has had a relationship with Jet Airways since 2004.
It currently has on lease three B737-800s with Jet Airways, which were delivered in recent months
Jet Airways’ new aircraft will be powered by CFM International LEAP-1B engines.
The new Boeing 737 MAX 8 will allow Jet Airways to enhance its operational efficiencies and meet the needs of growing air traffic demand in India.