Russia’s S7 Airlines to lease six A320neos from SMBC Aviation Capital

Russia’s S7 Airlines to lease six A320neos from SMBC Aviation Capital In total, S7 is planning to purchase up to 30 PW1100G-powered A320neo/A321neos within the next 12 years (Airbus)

S7 Airlines, Russia’s second biggest airline, and SMBC Aviation Capital, the Japanese-backed leasing firm, have signed an agreement for the lease of six PW1100G-powered A320neo aircraft, the lessor reveals in a statement. The deal includes a pre-delivery payment facility for all six aircraft.

The aircraft are part of SMBC Aviation Capital’s order book and are scheduled for delivery in 2020. SMBC Aviation Capital has worked with S7 (Sibir) since 2013 and already has seven aircraft on lease with the airline.

“We are very pleased to conclude this transaction with S7 Airlines, Russia’s largest domestic carrier, which continues to expand its network across Europe, the Middle East and Asia,” acknowledges Peter Barrett, chief executive of SMBC Aviation Capital.

Last year S7 became the first Russian airline to operate the state-of-the-art, fuel-efficient Airbus A320neo, taking delivery of four units by the end of 2017. In total the airline is planning to receive up to 30 Airbus A320neo/A321neo aircraft powered by PW1100G-JM geared turbofan engines within the next 12 years.

“S7 Airlines continues to upgrade its fleet, exploiting progressive technologies of the world’s leading producers. Last summer we became the first Russian carrier to introduce the Airbus A320neo to its passengers. These aircraft, with their higher levels of comfort and fuel efficiency, significantly outrank the previous generation,” points out Vladimir Obyedkov, general director of S7 Airlines.

S7, which also includes sister airline Globus, reported stable growth on domestic and international routes for the first quarter of 2018. The country’s second biggest airline group transported a total of 3,166 million passengers, up 7.5 per cent year-on-year.

The airline is building a network of domestic routes using its two hubs at Moscow (Domodedovo) and Novosibirsk (Tolmachevo). S7 Airlines also performs regular flights to CIS countries, Europe, the Middle East, south-east Asia, and the Asia-Pacific region.

SMBC Aviation Capital (formerly RBS Aviation Capital), is one of the world’s largest aircraft leasing companies, and currently has a portfolio of 250 owned and 177 managed aircraft with a further 203 on order from Airbus and Boeing. The company is owned and supported by a consortium of Japanese institutions, which include Sumitomo Mitsui Banking Corporation (SMBC), Sumitomo Mitsui Finance and Leasing Company Limited (SMFL) and Sumitomo Corporation.

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