on Aircraft Engine Lease Finance, Inc.
AELF Expands Fleet with Second 737-800 Lease to FlySafair
Aircraft Engine Lease Finance, Inc. (AELF) has completed the lease of a Boeing 737-800 to FlySafair, a South African carrier. This deal was financed by Investec Bank Limited. The aircraft, manufactured in 2016, is the second 737-800 leased to FlySafair by AELF this year.
Philip Scruggs, AELF Board Member, emphasized the importance of partnerships with financial institutions like Investec in achieving the company's strategic growth goals. The addition of more 737-800s aims to address the demand backlog caused by the 737-MAX grounding.
Investec's Head of Aviation Finance, Bradley Gordon, highlighted the transaction's significance in fostering growth in African aviation. FlySafair plans to shift its fleet from 737-400s to 737-800s, enhancing reliability and affordability for its customers.
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