News
SMBC sets up in Hong Kong
November 2nd 2018
SMBC Aviation Capital this week announced the establishment of SMBC Aviation Capital Hong Kong Limited. Read More » SMBC said the new Hong Kong branch was “testament to the growth in demand for aircraft in the Asian market and the continued need to service that demand locally”.
“Today we are opening another chapter in the story of SMBC Aviation Capital. Hong Kong is an attractive place for us to do business. It is one of the Asian capital markets hubs, serves as home base for a multitude of aviation-related businesses and remains a key centre for global trade,” said CEO of SMBC Aviation Capital, Peter Barrett.
“We have reached a size and scale in Hong Kong which makes economic sense for us to set up an operating company, but remain remain fully committed to Ireland and maintaining our principal presence in Dublin,” Barrett added.
SMBC Aviation Capital Hong Kong Limited will formally open by the end of this month. The firm will join the ranks of CALC, CDB Leasing, Avolon and ICBC Leasing in Hong Kong.
Last year, the Hong Kong government introduced an attractive new tax regime for aircraft lessors intended to build the city into a centre for leasing in the region.
SMBC Aviation Capital has approximately 100 airline customers in 42 countries. The lessor owns, manages and has committed to the purchase of 670 aircraft. Established in 2001, the company was acquired in 2012 by a consortium including two of Japan’s biggest companies, Sumitomo Mitsui Banking Corporation (SMBC) and Sumitomo Corporation.
