Milbank advises Apollo and Brookfield on $28.2 billion acquisition of Air Lease Corporation

Apollo managed funds and Brookfield are part of the buyer group backing Sumitomo Corporation and SMBC Aviation Capital in the acquisition of Air Lease, an aircraft lessor founded by Steven F. Udvar-Hazy and John L. Plueger whose portfolio is primarily new-technology aircraft. Apollo and Brookfield are providing capital to support the transaction.
Air Lease common stockholders are to receive US$65.00 per share in cash, implying an equity valuation of about US$7.4 billion and an approximately US$28.2 billion total valuation including debt obligations to be assumed or refinanced, net of cash.
The deal is expected to close in the first half of 2026, subject to customary conditions including shareholder and regulatory approvals; on closing, Air Lease will be renamed Sumisho Air Lease.

Apollo managed funds and Brookfield are part of the buyer group backing Sumitomo Corporation and SMBC Aviation Capital in the acquisition of Air Lease, an aircraft lessor founded by Steven F. Udvar-Hazy and John L. Plueger whose portfolio is primarily new-technology aircraft. Apollo and Brookfield are providing capital to support the transaction.
Air Lease common stockholders are to receive US$65.00 per share in cash, implying an equity valuation of about US$7.4 billion and an approximately US$28.2 billion total valuation including debt obligations to be assumed or refinanced, net of cash.
The deal is expected to close in the first half of 2026, subject to customary conditions including shareholder and regulatory approvals; on closing, Air Lease will be renamed Sumisho Air Lease.

Deal Overview