SUMISHO AIR LEASE CORP 8K

Sumisho Air Lease reported largely stable underlying first quarter 2026 operating performance but significantly lower GAAP net income year over year, alongside the completion of its acquisition and merger into a new Sumitomo/SMBC AC/Apollo/Brookfield-owned holding structure and related transfer of its aircraft orderbook to SMBC Aviation Capital.

Sumisho Air Lease Corporation (formerly Air Lease Corporation) reported first quarter 2026 results, showing flat total revenues of $739.2 million versus the prior year but a 68% decline in net income attributable to common stockholders to $114.8 million ($1.02 diluted EPS), primarily due to the absence of a $332 million Russian fleet insurance recovery and lower gains on aircraft sales, while adjusted pre-tax earnings remained broadly stable. Operationally, the company took delivery of 12 aircraft from its orderbook, sold six aircraft, and ended the quarter with 496 owned aircraft, over $33 billion in total assets, $5.4 billion of liquidity, and a $5.6 billion aircraft sales pipeline. A major structural event also occurred on April 8, 2026, when the previously announced merger closed: Takeoff Merger Sub Inc. merged into Air Lease Corporation, which survived as an indirect subsidiary of a new holding company, Sumisho Air Lease Corporation DAC, jointly owned by Sumitomo Corporation, SMBC Aviation Capital Limited, and Apollo- and Brookfield-affiliated vehicles, and the company changed its name to Sumisho Air Lease; in connection with closing, SMBC AC acquired the rights to the outstanding undelivered aircraft orderbook, and SMBC AC will subservice certain managed aircraft.

Filing Facts

CIK

1487712

Ticker

-

Form

8K

Source Type

sec

Accession

0001628280-26-032069

Alert Tier

8