MTU, Sumitomo Embark On New JVs

MTU Maintenance and Japan-based Sumitomo have created two new joint venture companies to help expand their business with the leasing of commercial aircraft engines. MTU Maintenance Lease Services - an 80:20 joint venture between MTU and Sumitomo - is based in Amsterdam and will provide airlines, MROs and lessors with short- and medium-term lease solutions. Sumisho Aero Engine Lease - a 90:10 joint venture between Sumitomo and MTU Aero Engines - will focus on long-term lease solutions for its customers.

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