WestJet Begins Phasing Out 737-700 Fleet with Sale to FTAI Aviation
WestJet has begun phasing out its Boeing 737-700 fleet by selling 27 aircraft to FTAI Aviation, one of the company's largest transactions to date. The deal allows WestJet to remove part of its subfleet while retaining 17 jets for a transitional period.
The airline will continue to operate these planes under leases through a sale-and-leaseback agreement with FTAI's 2026 special-purpose investment vehicle. This structure provides WestJet with capital without immediately removing all 27 aircraft from its network.
FTAI acquired the other ten 737-700s after they came off lease, and their engines will be used for maintenance, repair, and exchange customers. The company's business model combines aircraft ownership with engine maintenance and component supply.