AELF Secures $40 Million Credit Facility to Expand Aviation Portfolio

Aircraft Engine Lease Finance, Inc. (AELF) has successfully secured a $40 million credit facility with Merchants Bank, marking a continuation of their six-year partnership. This credit arrangement is intended to support AELF's expansion of its 737-800 portfolio and to capitalize on current market opportunities.

The facility is partially collateralized by four of AELF’s ten A330-200 aircraft, which are on a long-term lease with Air Transat. This strategic financing supports AELF's growth emphasis on its 737-800s, an area identified by the company as a vital growth vector.

Executives from both AELF and Merchants Bank expressed positive sentiments about the partnership. Joe Cirillo, COO at AELF, highlighted the importance of relationships with financial partners like Merchants Bank in achieving business development goals. Merchants Bank’s Market President, Ariana Meiser, also reaffirmed their commitment to supporting AELF’s growth.