Cash merger to take Air Lease (NYSE: AL) private at $65 per share
Rhea-AI Filing Summary
Air Lease Corporation has received the final regulatory approval needed to close its previously announced merger with a subsidiary of Sumisho Air Lease Corporation DAC. Under the merger agreement, holders of Air Lease’s Class A common stock will receive $65.00 in cash per share at closing.
The company expects to complete the merger on or about April 8, 2026, subject to remaining closing conditions. After the merger, Air Lease’s Class A common stock will be delisted from the New York Stock Exchange and will no longer trade publicly.
Air Lease’s existing Series B, Series C and Series D fixed-rate reset non-cumulative perpetual preferred stock will remain outstanding as preferred shares of the surviving corporation, which will be renamed Sumisho Air Lease Corporation upon completion of the merger.
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Insights
Air Lease advances toward closing a cash buyout at $65 per share.
The company has obtained the final regulatory approval required to close its all-cash merger with a Sumisho Air Lease subsidiary. Common shareholders are slated to receive $65.00 per share, which crystallizes the company’s equity value once the deal closes.
The transaction is expected to close on or about April 8, 2026, pending remaining closing conditions under the merger agreement. After completion, the Class A common stock will be delisted from the NYSE, meaning existing holders will hold cash rather than a listed security.
Preferred shareholders in the Series B, C and D issues will see their securities remain outstanding as preferred stock of the surviving corporation, preserving those instruments. The filing also highlights standard forward-looking risks, including potential delays, costs, or termination scenarios that could alter the outcome relative to current expectations.
8-K Event Classification
Key Figures
Key Terms
Agreement and Plan of Merger regulatory
final regulatory approval regulatory
definitive proxy statement regulatory
Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock financial
forward-looking statements regulatory
termination fee financial
FAQ
What did Air Lease (AL) announce regarding its pending merger?
How much will Air Lease (AL) common stockholders receive in the merger?
When does Air Lease (AL) expect the merger to close?
What happens to Air Lease (AL) common stock after the merger?
What will happen to Air Lease’s preferred stock in the merger?
Will Air Lease (AL) change its name after the merger closes?
What key risks could still affect the Air Lease (AL) merger closing?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 | Regulation FD Disclosure. |
As previously reported, on September 1, 2025, Air Lease Corporation, a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Sumisho Air Lease Corporation Designated Activity Company (formerly known as Gladiatora Designated Activity Company), an Irish private limited company (“Parent”), and Takeoff Merger Sub Inc., a Delaware corporation and indirect wholly owned subsidiary of Parent (“Merger Sub”), pursuant to which, subject to the conditions contained in the Merger Agreement, Merger Sub will merge with and into the Company, with the Company surviving as an indirect subsidiary of Parent (the “Merger”). Parent is a holding company that will be owned directly or indirectly by Sumitomo Corporation, a Japanese corporation, SMBC Aviation Capital Limited, a company incorporated with limited liability in Ireland, and investment vehicles affiliated with Apollo managed funds and Brookfield Asset Management Ltd.
On March 30, 2026, the Company issued a press release announcing the receipt of the final regulatory approval that is a condition to closing the Merger. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
The Company expects to complete the Merger on April 8, 2026. Completion of the Merger remains subject to the satisfaction of the remaining closing conditions set forth in the Merger Agreement. Following the Merger, the Class A Common Stock of the Company, par value $0.01 per share (the “Class A Common Stock”) will be delisted from the New York Stock Exchange and the shares of Class A Common Stock will cease to be publicly traded.
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit No. |
Description | |
| 99.1 | Air Lease Corporation Press Release dated March 30, 2026. | |
| 104 | The cover page from this Current Report on Form 8-K formatted in Inline XBRL. | |
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| AIR LEASE CORPORATION | ||||||
| Date: March 30, 2026 | /s/ Gregory B. Willis | |||||
| Gregory B. Willis | ||||||
| Executive Vice President and Chief Financial Officer | ||||||
3
Exhibit 99.1
Air Lease Announces Receipt of Final Regulatory Approval in Connection with Pending Merger
LOS ANGELES, California, March 30, 2026 – Air Lease (NYSE: AL) announced today the receipt of the final regulatory approval that is a condition to closing Air Lease’s previously announced merger with a subsidiary of Sumisho Air Lease Corporation DAC, a holding company based in Dublin, Ireland, whose shares at closing will be held directly or indirectly by Sumitomo Corporation, SMBC Aviation Capital Limited and investment vehicles affiliated with Apollo managed funds and Brookfield.
Air Lease expects to complete the merger on or about April 8, 2026, subject to the satisfaction of the remaining closing conditions set forth in the merger agreement and discussed in detail in the definitive proxy statement filed with the U.S. Securities and Exchange Commission by Air Lease on November 4, 2025. Under the terms of the merger agreement, upon completion of the merger, Air Lease’s Class A common stockholders will be entitled to receive $65.00 in cash, without interest and subject to any applicable withholding taxes, for each share of Class A common stock of Air Lease held immediately prior to the effective time of the merger. Additionally, under the terms of the merger agreement, each share of 4.65% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, 4.125% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C, and 6.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series D, of Air Lease issued and outstanding immediately prior to the effective time of the merger will remain outstanding as preferred stock of the surviving corporation. Upon completion of the merger, Air Lease will be renamed Sumisho Air Lease Corporation.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “may,” “will,” “would,” “could,” “should,” “seeks,” “estimates” and variations on these words and similar expressions are intended to identify such forward-looking statements.
All statements, other than historical facts, including statements regarding the expected timing of the closing of the merger; the ability of the parties to complete the merger considering the various closing conditions; the expected benefits of the merger; and any assumptions underlying any of the foregoing, are forward-looking statements. Such statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will be achieved. You should not place undue reliance on such statements. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, that (i) one or more closing conditions to the merger may not be satisfied or waived, on a timely basis or otherwise; (ii) the business of Air Lease may suffer as a result of uncertainty surrounding the merger and there may be challenges with employee retention as a result of the pending merger; (iii) the merger agreement contains restrictions on Air Lease’s ability to incur additional debt, which may negatively impact its liquidity and ability to maintain its investment grade ratings; (iv) the merger may involve unexpected costs, liabilities or delays; (v) legal proceedings have been and may continue to be initiated related to the merger; (vi) changes in economic conditions, political conditions and changes in laws or regulations may occur; (vii) an event, change or other circumstance may occur that could give rise to the termination of the merger agreement (including circumstances requiring a party to pay the other party a termination fee pursuant to the merger agreement); and (viii) other risk factors as detailed from time to time in Air Lease’s reports filed with the Securities and Exchange Commission (the “SEC”), including Air Lease’s Annual Report on Form 10-K for the year ended December 31, 2025, which are available on the SEC’s website (www.sec.gov). There can be no assurance that the merger will be completed, or if it is completed, that it will close within the anticipated time period or that the expected benefits of the merger will be realized.
In addition, new risks and uncertainties may emerge from time to time, and it is not possible for Air Lease to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. Air Lease expressly disclaims any obligation to revise or update publicly any forward-looking statement to reflect actual results or events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
About Air Lease (NYSE: AL)
Air Lease is a leading global aircraft leasing company based in Los Angeles, California that has airline customers throughout the world. Air Lease and its team of dedicated and experienced professionals are principally engaged in purchasing new commercial aircraft and leasing them to its airline customers worldwide through customized aircraft leasing and financing solutions. The company routinely posts information that may be important to investors in the “Investors” section of its website at www.airleasecorp.com. Investors and potential investors are encouraged to consult Air Lease’s website regularly for important information. The information contained on, or that may be accessed through, Air Lease’s website is not incorporated by reference into, and is not a part of, this press release.
| Investors: | Media: | |
| Jason Arnold | Ashley Arnold | |
| Vice President, Investor Relations | Senior Manager, Media and Investor Relations | |
| Email: investors@airleasecorp.com | Email: press@airleasecorp.com | |