AELF Acquires 737-800 in Transaction With Nedbank, IBA

Aircraft Engine Lease Finance, Inc. (AELF) has acquired a Boeing 737-800 MSN 40972 from an entity controlled by South Africa's Nedbank. This acquisition is the latest in the U.S.-based lessor's campaign to expand its fleet of this aircraft type.

"We remain steadfast in our strategy to acquire high quality, dormant 737-800s," said Joe Cirillo, Head of Global Marketing for AELF. He expressed optimism about transitioning the aircraft back into service with a strong lessee.

The seller, New Heights Leasing No 8 Limited, is controlled by Nedbank and was represented by UK-based consultancy IBA Group Ltd. James Geldenhuys, Head of Aircraft Finance at Nedbank CIB, emphasized the importance of supporting the aviation industry.

Guljar Lehri, Head of Aircraft Transactions for IBA, expressed satisfaction with completing another aircraft recovery and sale transaction. The 2016 manufactured aircraft, the newest 737-800 in AELF's fleet, was previously operated by Comair.