FTAI Aviation has acquired 27 Boeing 737-700 aircraft from WestJet in one of its largest aircraft transactions to date. The deal splits into a sale-leaseback of 17 aircraft, which will remain on lease to WestJet through FTAI’s 2026 Strategic Capital vehicle, and the purchase of 10 off-lease jets for FTAI’s Aerospace Products business.
WestJet is using the transaction to begin retiring its 737-700 fleet. The 10 off-lease aircraft will support FTAI’s supply of CFM56-7B engines and modules for maintenance, repair and exchange customers, strengthening the company’s parts and engine inventory as it continues to deploy capital into mid-life narrowbody aircraft.
The 2026 Strategic Capital vehicle is FTAI’s second such investment platform and follows an earlier programme that raised $2 billion in equity commitments and deployed about $6 billion across more than 300 aircraft. No financial terms for the WestJet transaction were disclosed.