Sumitomo Takes Large Stake In Helicopter Lessor LCI
Sumitomo Mitsui Finance, which acquired a 35 percent stake in LCI, intends to grow that business by $1.5 billion.
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. (Photo: LCI)

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. ā€œLCI is delighted to expand and solidify its relationship with SMFL through this transaction. Together we intend to reinforce LCIā€™s position as a leading provider of leasing, financing, and investing solutions in the aviation industry,ā€ 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.  

ā€œThe 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 LCIā€™s business,ā€ said Masaki Tachibana, president of SMFL.

ā€œWe 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,ā€ said George Logothetis, Libra Group executive chairman.