IAT Leasing has acquired two 2009-vintage Boeing 737 aircraft from Dubai Aerospace Enterprise (DAE), comprising one 737-800 and one 737-700, both on lease to WestJet.
The aircraft were purchased on behalf of funds managed by two existing US investors through a co-investment structure, marking the first use of this model for an aircraft acquisition on the IAT platform. The company will continue to provide lease administration and asset management services for both aircraft.
The deal represents another successful transaction with DAE and brings WestJet, a leading Canadian carrier, back into the IAT-managed portfolio. It also deepens IAT’s relationship with its equity partners.
Martin Browne, Chief Executive Officer of IAT, said the transaction reflects the platform’s focus on acquiring liquid, in-demand narrow-body aircraft leased to strong global airline credits.
