FTAI Aviation Lands 27 Boeing Jets in Deal with WestJet
FTAI Aviation has made its largest aircraft transaction to date by acquiring 27 Boeing 737-700s from Canadian airline WestJet. The deal, announced on September 28, involves FTAI's 2026 special purpose vehicle (SPV), which is part of the company's Strategic Capital business.
Under the agreement, FTAI acquired 17 of these aircraft leased to WestJet through a sale-and-leaseback arrangement. Additionally, the company purchased ten off-lease planes for its Aerospace Products division. These newly acquired engines and modules will support FTAI's maintenance, repair, and exchange services.
David Moreno, President of FTAI, expressed satisfaction with expanding their partnership with WestJet. The airline's Executive Vice-President and Chief Financial Officer, Mike Scott, noted that this transaction marks the beginning of WestJet's retirement of its 737-700 fleet.