Air Lease Corporation (NYSE: AL) announced it has received final regulatory approval required to complete its previously announced merger with a subsidiary of Sumisho Air Lease Corporation DAC, according to a company statement.

The Los Angeles-based aircraft leasing company expects to complete the merger on or about April 8, 2026, subject to satisfaction of remaining closing conditions outlined in the merger agreement. The conditions are detailed in a definitive proxy statement filed with the U.S. Securities and Exchange Commission on November 4, 2025.

Under the merger terms, Air Lease Class A common stockholders will receive $65.00 in cash per share upon completion. The payment excludes interest and is subject to applicable withholding taxes.

Sumisho Air Lease Corporation DAC is a Dublin, Ireland-based holding company whose shares will be held directly or indirectly by Sumitomo Corporation, SMBC Aviation Capital Limited, and investment vehicles affiliated with Apollo managed funds and Brookfield.

The merger agreement specifies that Air Lease's preferred stock series will remain outstanding as preferred stock of the surviving corporation. These include 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.

Following completion of the merger, Air Lease will be renamed Sumisho Air Lease Corporation.

Air Lease operates as a global aircraft leasing company serving airline customers worldwide through customized aircraft leasing and financing solutions.