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Tag: Aircraft Finance

  • AELF Closes $55 Million Credit Facility With Merchants Bank

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    CHICAGO, June 19, 2025 (Newswire.com)
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    Aircraft Engine Lease Finance, Inc (“AELF”) announced today the completion of a $55 million line of credit provided by Indiana-based Merchants Bank. The financing will be used for the acquisition of commercial aircraft as AELF continues to expand its fleet.

    “Merchants Bank has been a key partner in AELF’s development, and we are very pleased to continue to expand that relationship as we grow the fleet and diversify our stable of high-quality airline partners,” said Phil Scruggs, Board Member for AELF.

    AELF has been a borrower from Merchants Bank since 2019. This line of credit consolidates and expands on AELF’s existing borrowings with the lender. The privately held leasing company is actively growing its fleet of mid-life commercial aircraft with the addition of several 737 NGs and A330s in recent months, and negotiations on a host of additional acquisitions underway.

    “Our partnership with AELF has been incredibly valuable as we continue to support their vision and innovation in the industry,” said Ariana Meiser, Market President of Merchants Bank. “We strive to work alongside organizations like AELF and look forward to being part of their continued growth for years to come.”

    ABOUT AELF

    Aircraft Engine Lease Finance Inc. (“AELF”) is an experienced commercial aircraft lessor. Based in Chicago, AELF offers customized and flexible financing solutions to airlines and commercial aircraft operators worldwide. AELF has been in operation for a decade and is continually expanding its commercial aircraft and engine portfolio.

    ABOUT MERCHANTS BANK

    Ranked as one of the top-performing banks in the U.S. by American Banker/Capital Performance Group, Merchants Bank focuses on several segments of the banking industry, including retail and correspondent residential mortgage banking, multifamily mortgage banking, business banking (including small business lending), agricultural lending, mortgage warehouse financing, and traditional community banking. Merchants Bank conducts business from its Indiana banking centers and various regional production offices. Additional information can be found at www.bankmerchants.com. Member FDIC | Equal Housing Lender

    Contact Information

    Amy Phillips
    communications@aelfinc.com

    Source: Aircraft Engine Lease Finance, Inc.

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  • AELF Leases Third 737-800 to FlySafair

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    Financing Provided by Investec


    CHICAGO, February 20, 2025 (Newswire.com)
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    Aircraft Engine Lease Finance, Inc (“AELF”) announced it has leased a third Boeing 737-800 to South Africa’s FlySafair. The 2016 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 narrowbody 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 narrowbody 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 the lender 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 the AELF

    Aircraft Engine Lease Finance Inc. (“AELF”) is an experienced commercial aircraft lessor. Based in Chicago, AELF offers customized and flexible financing solutions to airlines and commercial aircraft operators worldwide. AELF has been in operation for a decade and owns a fleet of A330-200s and 737-800s as well as an engine portfolio. The company is strategically expanding its presence in the 737NG market.

    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

    Contact Information

    Amy Phillips
    communications@aelfinc.com

    Source: Aircraft Engine Lease Finance, Inc.

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