SMBC Aviation Capital Increases Airbus A320neo Portfolio by $10 Billion | kbnmart

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FARNBOROUGH AIRSHOW – Pratt & Whitney, a division of RTX (NYSE: RTX), today announced that SMBC Aviation Capital, a leading lessor of GTF-powered A320neo Family aircraft, has exercised options for an additional 22 firm aircraft. This represents an expansion of its 20-firm order for 20 more aircraft in 2021, bringing the lessor’s total commitment to 42 additional GTF-powered A320neo Family aircraft.

In 2019, SMBC Aviation Capital initially committed 50 firm orders for Pratt & Whitney A320neo Family aircraft. The company currently operates a fleet of 142 GTF-powered A320neo Family aircraft. This latest announcement highlights the strong partnership between these two industry leaders.

“We appreciate SMBC Aviation Capital’s continued confidence in Pratt & Whitney as we work together to deliver economic and environmental benefits to our airline customers.” “The company is committed to providing customers with the best possible service and reliability,” said Rick Diorlo, president of commercial engines at Pratt & Whitney. “These additional orders are a testament to the advantages this engine offers as the most fuel efficient and sustainable engine for single-aisle aircraft.”

“SMBC Aviation Capital is pleased to confirm these latest technology engines that reflect our core commitment to investing in the most fuel efficient and sustainable aircraft our customers want to operate.” Barry Flannery, Commercial Director of SMBC Aviation Capital, said:

SMBC Aviation Capital is the world’s second largest aircraft leasing company. Backed by the strong support of its shareholders, Sumitomo Mitsui Financial Group and Sumitomo Corporation, SMBC Aviation Capital boasts a global, top-tier aviation client base. Its portfolio comprises 83% narrow-body aircraft and 66% new-technology aircraft by net book value. The company enjoys a strong capital position and has received outstanding credit ratings of A- from S&P and BBB+ from Fitch, demonstrating the enduring stability and strength of its business.

Employing more than 185,000 people worldwide, RTX is at the forefront of technological and scientific advancements, redefining global connectivity and security. Through its flagship subsidiaries – Collins Aerospace, Pratt & Whitney and Raytheon – RTX is a leader in advancing aerospace, engineering integrated defense systems, and crafting next-generation technology solutions and manufacturing processes. With 2023 sales of $69 billion, RTX is headquartered in Arlington, Virginia, and is dedicated to addressing the most critical challenges facing its global customers.