AELF Acquires 737-800 in Transaction With Nedbank, IBA

CHICAGO, August 1, 2024 (Newswire.com) - Aircraft Engine Lease Finance, Inc. (“AELF”) has acquired Boeing 737-800 MSN 40972 from an entity controlled by South Africa’s Nedbank, the latest in an acquisition campaign of this aircraft type by the U.S.-based lessor.

“We remain steadfast in our strategy to acquire high quality, dormant 737-800s,” said Joe Cirillo, Head of Global Marketing for AELF. “We are looking forward to transitioning this aircraft back into service with a strong lessee.”

The seller, New Heights Leasing No 8 Limited, is controlled by Nedbank, which was represented in the transaction by UK-based consultancy IBA Group Ltd.

“We are delighted to see the Boeing 737-800 taking to the skies once again. This transaction underscores our commitment to supporting the aviation industry and ensuring that high-quality aircraft continue to serve airlines and passengers worldwide,” said James Geldenhuys, Head of Aircraft Finance at Nedbank CIB.

“We are thrilled to have successfully concluded another aircraft recovery and sale transaction,” said Guljar Lehri Head of Aircraft Transactions for IBA. Peter Walter, IBA’s Director of Technical, Asset Management, added, “This accomplishment highlights our dedication to supporting Nedbank in maximising asset realisations.”

The 2016 manufactured aircraft, which is the newest 737-800 in AELF’s fleet, was previously operated by Comair. 

About AELF

Aircraft Engine Lease Finance Inc. (“AELF”) is an experienced leader in commercial aircraft leasing. Based in Chicago, AELF offers customized and flexible financing solutions to airlines and commercial aircraft operators worldwide.  AELF has been in operation for almost a decade and owns a fleet of A330-200s and 737-800s as well as an engine portfolio. The company is strategically expanding its presence in the 737NG market.

About Nedbank

Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management. Nedbank Limited is a wholly owned subsidiary of Nedbank Group. Nedbank's primary market is South Africa.

About IBA Group Ltd 

IBA Group is the leading aviation data, intelligence and advisory company, providing award-winning solutions, valuations and asset management. With unrivalled data intelligence through IBA NetZero and IBA Insight, they work with airlines, financiers, aircraft manufacturers and leasing companies.

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Source: Aircraft Engine Lease Finance, Inc.