FTAI Aviation Acquires 27 Boeing 737-700s from WestJet as Fleet Retires

FTAI Aviation Ltd., a global aviation company, has acquired 27 Boeing 737-700 aircraft from WestJet as part of its fleet retirement strategy. The transaction marks one of FTAI's largest aircraft deals to date and highlights the company's strategy of combining aircraft ownership with engine maintenance and aftermarket capabilities.

The deal involves two types of aircraft: 17 Boeing 737-700s currently leased to WestJet through a sale-leaseback transaction, and 10 off-lease aircraft that will support FTAI's Aerospace Products business. The company plans to use these engines and modules to increase its supply for customers using its Maintenance, Repair and Exchange services.

According to FTAI President David Moreno, the deal demonstrates how the company's Strategic Capital and Aerospace Products businesses can work together to offer airlines integrated fleet and engine solutions. WestJet Group Executive Vice-President and Chief Financial Officer Mike Scott described the transaction as a strategic milestone that marks the beginning of the airline's retirement of its 737-700 fleet.