Air Lease to be sold to Sumitomo, Apollo-backed group for $7.4 billion

(Reuters) -Aircraft leasing company Air Lease said on Tuesday it had agreed to be acquired by a newly formed holding company backed by Sumitomo Corporation, SMBC Aviation Capital and investment funds managed by Apollo and Brookfield for about $7.4 billion in cash.

Air Lease shareholders will be paid $65 in cash for each Class A common share they hold. Shares of the company were up about 4.5% in premarket trade.

The deal, which values the aircraft lessor at about $28.2 billion including debt, is expected to close in the first half of 2026.

(Reporting by Abhinav Parmar in Bengaluru; Editing by Shreya Biswas)