SMBC’s MAX deal with India’s Jet Airways

SMBC Aviation Capital has signed a deal with Jet Airways involving the sale and leaseback of 13 Boeing 737 MAX 8 aircraft, in what the lessor has called its most significant single deal to date in India.

The new aircraft will be powered by CFM International’s LEAP-1B engines, with the first aircraft set to be delivered in August 2018.

“We are very pleased to conclude this transaction, our most significant MAX sale and leaseback to date,” said Peter Barrett, SMBC’s CEO. “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.”

SMBC Aviation has worked with the airline since 2004 and is currently leasing three B737-800 aircraft to the carrier, all of which were delivered in recent months.

CEO of Jet Airways, 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.”

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