Mitsubishi Corporation subsidiary completes operating-lease contract with Jetstar Japan

July 3, 2012

Mitsubishi Corporation subsidiary completes operating-lease contract with Jetstar Japan

MC Aviation Partners Inc. (MCAP), a wholly-owned subsidiary of Mitsubishi Corporation (MC), has successfully completed an operating-lease contract with Jetstar Japan for five Airbus A320-200 type aircraft.

The A320-200 type aircraft is a highly fuel efficient small passenger plane. Its wide cabin also allows passengers to board and alight quickly, enabling swift turnaround times. These features render the aircraft, together with the Boeing B737-800 type, highly suited to the low fare business model in which the optimization of operating costs is essential. MCAP will deliver five new A320-200 aircraft to Jetstar Japan towards the end of March 2014.

The global air transport market is expected to see continuous growth against the backdrop of substantial economic growth in emerging nations. In addition, the number of commercial aircraft in operation, which currently stands at around 20,000, is expected to double over the next 20 years. There will also be more leasing of commercial aircraft, with the percentage of commercial aircraft being supplied through leases rising to 40% from its current level of 30% over the next 10 years.

MC has been working to expand its business in the field of aircraft leasing, with efforts concentrated through MCAP which is based in Tokyo, Los Angeles and Dublin. MC has been contributing to the realization of reducing initial investments and flexible fleet planning (*) which are both important issues for airlines. Building upon the work of its aircraft leasing business, MC will continue to offer a wide range of solutions to the aviation industry moving forward.

*Planning the introduction of new aircraft; mapping out the introduction stage and selecting the necessary new models when retiring ageing aircraft or expanding operating routes.

(Detailed Materials)

About Jetstar Japan

Jetstar Japan is a low fare airline that will fly domestically within Japan from July 2012. Short-haul international flights are expected to start during 2013. The airline will initially have a fleet of three new Airbus A320s configured for 180 passengers. This fleet will grow to 24 aircraft within the first few years. Jetstar Japan is a partnership between the Qantas Group, Japan Airlines, Mitsubishi Corporation and Century Tokyo Leasing Corporation.

About MC Aviation Partners Inc.

Headquarters : 1-3-1 Marunouchi, Chiyoda-ku, Tokyo, Japan

Established : August 2008

Capital : 470 million yen (Fiscal year ended March 2012)

Business : Aircraft leasing and management services

Owned aircraft : 87 (as of end of May 2012)

Employees : 65 (as of end of May 2012)

Representative : CEO Hiroshi Nakanishi

About Airbus A320

Payload : 77,000 kg

Wing span : 34.1 m

Overall length : 37.6 m

Height : 11.8 m

Max cabin width : 3.7 m

Range : 6,150 km

Cruise speed : 863 km/h

Typical seating : 180（all leather seating）

Inquiry Recipient

Mitsubishi Corporation
Telephone:+81-3-3210-2171 / Facsimile:+81-3-5252-7705