Sumitomo Mitsui Finance and Leasing (SMFL) is acquiring a 35 percent stake in helicopter lessor LCI and has committed to helping to grow the business by $1.5 billion in the near term. “LCI is delighted to expand and solidify its relationship with SMFL through this transaction. Together we intend to reinforce LCI’s position as a leading provider of leasing, financing, and investing solutions in the aviation industry,” said LCI CEO Jaspal Jandu.
Libra Group unit LCI first partnered with SMFL in 2020 by launching a $230 million joint venture (JV) covering the purchase of 19 helicopters. Subsequently, the JV has grown to cover over 50 aircraft valued at over $550 million. LCI has orders to expand its fleet to nearly 350 aircraft including substantial commitments to acquire 165 eVTOL aircraft from manufacturers Elroy Air and Beta Technologies.
“The investment by SMFL into LCI is the next step in what we hope will be a series of strategic collaborations across the helicopter and relevant industries, which enables both of us to further strengthen LCI’s business,” said Masaki Tachibana, president of SMFL.
“We expect to progressively grow and deepen our relationship with SMFL over the years, our long-term outlook and belief system are strikingly similar. The possibilities for collaboration are endless, from aviation to maritime to renewable energy and all that lies in between,” said George Logothetis, Libra Group executive chairman.