September 17, 2013
MTU Maintenance and Sumitomo Corporation combine competence in engine lease business
MTU Maintenance, an independent maintenance provider for commercial aircraft engines, and Japan-based Sumitomo Corporation, one of the largest trading companies worldwide, have created two new joint venture companies to jointly expand their business with the leasing of commercial aircraft engines. MTU Maintenance Lease Services B.V., an 80:20 joint venture between MTU Maintenance and Sumitomo Corporation, is based in Amsterdam, The Netherlands and will provide airlines, MROs and lessors with short- and medium-term lease solutions. Sumisho Aero Engine Lease B.V., a 90:10 joint venture between Sumitomo Corporation and MTU Aero Engines, the parent company of MTU Maintenance and Germany’s leading engine manufacturer, will focus on long-term lease solutions for its customers. The company is also based in Amsterdam. The joint ventures are still subject to the approval of the applicable competition authorities.