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AELF Leases Third 737-800 to FlySafair
Aircraft Engine Lease Finance, Inc ("AELF") announced it has leased a third Boeing 737-800 to South Africa's FlySafair. The2016 vintage aircraft, MSN 40971, was acquired by AELF with financing provided by Investec Bank Limited ("Investec").
"We are pleased to support the growth of FlySafair's fleet and appreciate the opportunity to expand our relationship with Investec," said Joe Cirillo, Chief Commercial Officer. "Our thanks to both organizations for their work on this transaction, which is directly in line with our strategic growth plans in the narrow body market."
Over the last year AELF has been actively acquiring 737-800s for long term operating lease as it expands its aircraft portfolio. FlySafair operates a narrow body fleet largely comprised of the 737-800s.
"Maintaining efficiency on costs and through reliability is core to our business model and we are happy to have aligned with a partner that understands these requirements." said Kirby Gordon, Chief Marketing Officer at FlySafair.
MSN 40971 is AELF's second 737-800 financed by Investec, having also financed a sister ship with thel ender last year.
"We are proud to once again partner with AELF and FlySafair with this transaction," said Thato Matsha, Aviation Finance at Investec South Africa. "We regard AELF and FlySafair as excellent operators in the aviation sector and are pleased to be able to strengthen the relationships we have built with both in recent years."
About FlySafair
FlySafair, South Africa's leading international low-cost carrier, is a trade name for Safair Operations, based in Kempton Park, South Africa. The airline flies to 15 destinations in Sub-Saharan Africa. FlySafair, which uses the slogan For The Love Of Flying, is the most on-time, low-cost airline in the world.
About Investec
Investec partners with private, institutional, and corporate clients, offering international banking, investments, and wealth management services in two principal markets, South Africa, and the UK, as well as certain other countries. The Group was established in 1974 and currently has 7,500+ employees.
Investec has a dual listed company structure with primary listings on the London and Johannesburg Stock Exchanges. ICIB Disclaimer
About AELF
AELF is an experienced, US-based commercial aircraft lessor offering customized, flexible capital solutions to airlines, lessors, banks and non-traditional aircraft owners. AELF has been in operation for over a decade and is continually expanding its commercial aircraft and engine portfolio. AELF acquires aircraft in various stages of their existing lease with a broad range of airline and leasing partners, including dormant and stub leased assets for which the company completes the maintenance and re-marketing to return them to service. AELF is an Expedition Partners company. Learn more at www.expeditionpartnersllc.com.
