FTAI Aviation Acquires 27 Boeing 737-700s from WestJet

FTAI Aviation Ltd. acquired 27 Boeing 737-700 aircraft from WestJet in one of the largest transactions in the company's history. The deal is structured in two parts: a sale-leaseback of 17 aircraft through FTAI's 2026 SPV investment vehicle and the acquisition of 10 off-lease aircraft.

FTAI intends to use the off-lease aircraft to increase its supply of CFM56-7B engines and modules for its Aerospace Products maintenance, repair, and exchange business. For WestJet, the transaction officially begins the retirement of its 737-700 fleet.

WestJet Group Executive Vice-President and Chief Financial Officer Mike Scott described the 27-aircraft transaction as a "strategic milestone" for the airline's fleet transition. FTAI President David Moreno stated the company is pleased to expand its relationship with WestJet through the deal.