WestJet Retires Boeing 737-700 Fleet After FTAI Aviation Acquisition

WestJet has begun retiring its remaining Boeing 737-700 fleet after FTAI Aviation acquired 27 aircraft operated by the Canadian airline. The deal marks a significant milestone for WestJet, which had previously announced plans to accelerate the retirement of its oldest 737-700s due to high fuel prices.

FTAI's acquisition consists of two parts: 17 Boeing 737-700 aircraft on lease to WestJet were acquired through a sale-leaseback agreement, while 10 off-lease aircraft were purchased to support FTAI's Aerospace Products business. The latter is expected to expand the company's supply of CFM56-7B engines and modules available to its customers.

WestJet Group Executive Vice-President and CFO Mike Scott described the deal as a 'strategic milestone' that marks the start of the airline's retirement of its 737-700 fleet. FTAI President David Moreno noted how the company's Strategic Capital and Aerospace Products businesses work together to offer airlines comprehensive fleet solutions.

The acquisition is part of FTAI Aviation's largest aircraft transaction to date, with the deal taking place in September 2026 through a special purpose vehicle launched earlier that year. WestJet had previously announced plans to retire its oldest 737-700s by June 2026 due to high fuel prices.