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SMBC Aviation Capital and AJet Sign Lease for Five Airbus Aircraft

SMBC Aviation Capital and AJet Finalize Lease for Five Airbus A320neo Aircraft
SMBC Aviation Capital has entered into a lease agreement with AJet, the wholly owned low-cost subsidiary of Turkish Airlines, for five Airbus A320neo aircraft. This deal, announced this week, further strengthens the leasing company’s partnership with Turkish Airlines, increasing the total number of aircraft placed with the group since 2022 to 25.
Delivery Schedule and Operational Impact
The five A320neo jets, noted for their advanced design and enhanced fuel efficiency, are slated for delivery between the fourth quarter of 2025 and the second quarter of 2026. Once delivered, these aircraft will be operated exclusively by AJet, supporting the airline’s ongoing fleet expansion and efforts to improve operational efficiency. The addition of these modern jets is expected to play a key role in AJet’s strategy to meet growing demand in the low-cost carrier segment.
Barry Flannery, Chief Commercial Officer of SMBC Aviation Capital, described the agreement as a continuation of the company’s robust relationship with Turkish Airlines. He highlighted that the inclusion of the A320neo aircraft will not only enhance AJet’s operational performance but also contribute to broader sustainability objectives within the aviation industry. Flannery expressed optimism about future collaborations with Turkish Airlines, underscoring the strategic importance of this partnership.
Assoc. Prof. Murat Şeker, Chief Financial Officer and Board Member of Turkish Airlines, welcomed the agreement, emphasizing the A320neo’s role in advancing AJet’s efficiency and sustainability goals. He reaffirmed the airline’s commitment to making air travel more accessible and affordable, positioning AJet to capitalize on the rising demand in the competitive low-cost market.
Industry Challenges and Market Context
The lease agreement arrives amid ongoing challenges in the global aerospace sector. Supply chain disruptions remain a significant concern, potentially affecting the timely delivery and maintenance of the leased Airbus aircraft. Airbus has recently tempered its outlook for industry-wide aircraft delivery growth, reflecting broader market uncertainties that may impact both lessors and airlines.
Competitive pressures are also intensifying within the leasing market. Other companies, such as AviLease, have recently placed substantial orders—including 77 Airbus aircraft—potentially influencing market dynamics and pricing strategies across the sector.
Despite these headwinds, the partnership between SMBC Aviation Capital and AJet highlights both companies’ commitment to fleet modernization and sustainable growth. This latest lease agreement represents a significant step in AJet’s expansion, with SMBC Aviation Capital playing a central role in supporting the airline’s long-term development ambitions.

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