SMBC Aviation Capital has concluded a lease agreement for 20 Airbus A320neos with Spirit Airlines. The agreement includes the sale and leaseback of 14 aircraft and six direct A320neo lease placements from SMBC Aviation Capital’s order book.
On Thursday (October 14, 2021), SMBC Aviation Capital, One of the world’s leading aircraft lessors, announced the conclusion of a lease agreement for 20 Airbus A320neos with Miramar, Florida-based LCC Spirit Airlines. The agreement includes the sale and leaseback of 14 A320neos to be delivered from November 2021 through September 2022, as well as six direct aircraft placements from SMBC’s order book, to be delivered from September 2022 through February 2023.
In Friday’s announcement, SMBC Aviation Capital’s Chief Commercial Officer, Barry Flannery, said,
“We are delighted to sign these lease agreements with Spirit, continuing our strong partnership with the airline. The delivery of twenty of the newest generation, fuel efficient A320neo aircraft will help Spirit deliver on its strategy to grow capacity whilst meeting its sustainability goals. This transaction reaffirms how there is continued demand for SMBC Aviation Capital’s young, fuel efficient narrow body aircraft, and how our business continues to offer innovative and flexible financing solutions to customers as the aviation industry recovers from the pandemic.”
Also commenting on the new lease agreement, Spirit Airlines’ Vice President and Treasurer, Simon Gore, said,
“Our partnership with SMBC Aviation Capital plays a pivotal role in helping us achieve our previously announced capacity plans for 2022 and 2023. Spirit was the first U.S. airline to operate the revolutionary A320neo, which gives our Guests the enhanced experience they’re looking for and offers incredible fuel efficiency. Each of these new aircraft will allow us to deliver on our mission of providing the best value in the sky.”
Established in 2001, Dublin-based SMBC Aviation Capital is one of the world’s leading aircraft lessors and currently serves 85 airline customers in 36 countries. As of September 30, 2021, the company had an owned and managed and committed portfolio of over 730 aircraft. In 2012, SMBC was acquired by a consortium of two of Japan’s biggest companies, Sumitomo Mitsui Financial Group (SMFG) and Sumitomo Corporation. SMBC Aviation Capital holds the highest joint credit rating of all aircraft leasing companies.
Miramar, Florida-based low-cost carrier Spirit Airlines (NYSE: SAVE) is committed to offering the best value in the sky with service to destinations in the U.S., Latin America, and the Caribbean. The airline allows customers to select and pay for only the products and services they want, something they call “À La Smarte.” Spirit also operates one of the youngest and most fuel-efficient fleets in the U.S. The carrier proudly calls their youthful fleet of 168 aircraft their “Fit Fleet®.” Spirit Airlines will add 16 new fuel-efficient Airbus A320neos to their fleet in 2021 and an additional 24 aircraft in 2022.
Source(s): SMBC Aviation Capital, Spirit Airlines