IAT Leasing has added two WestJet-placed Boeing 737s to its portfolio through an acquisition from Dubai Aerospace Enterprise. The deal covers a 2009-vintage 737-800 and 737-700, both already on lease to the Canadian carrier.
The transaction extends IAT’s in-service narrowbody platform with assets that retain lease cover, limiting re-lease exposure and keeping cash flow tied to an established operator. For WestJet, the aircraft remain in place, so the change is at the lessor level rather than in fleet deployment.
The acquisition fits IAT’s pattern of buying leased narrowbodies rather than positioning off-lease metal. That approach should continue to attract capital as lessors look for yield with lower transition risk.