World Star Aviation (WSA) and Magellan have completed the transaction for three Boeing 737-800 aircraft previously leased to South Korea’s Eastar Jet. This deal transfers ownership or control of the narrowbody jets, marking a key fleet adjustment for the low-cost carrier amid its operational shifts.
The aircraft, B737-800 models, were part of Eastar Jet’s leased fleet, which supports its current operations of around 15 planes. Eastar Jet plans aggressive expansion, targeting 27 aircraft by 2026 through 12 new Boeing 737-8 purchases, with seven arriving next year and five in 2026.
This transaction aligns with Eastar Jet’s strategic pivot, including a recent move into cargo operations and Jeju Air’s acquisition of a 51.17% stake for KRW54.5 billion ($45.4 million). WSA, active in the converted freighter market, recently acquired two Boeing 737-800BCF units from Aergo Capital (MSN 29786, 29788) and delivered a 737-800BDSF to Swiftair.
The deal impacts lessor dynamics in the Asia-Pacific region, where Eastar Jet’s fleet growth and ownership change signal resilience despite past sale rumors. It facilitates Eastar Jet’s transition to newer, efficient 737-8 aircraft while WSA bolsters its inventory of mid-life 737-800 conversions for cargo demand.