FTAI Aviation has acquired 27 Boeing 737-700 aircraft from Canadian airline WestJet in one of its largest aircraft transactions to date, the companies said on Monday.
Under the deal, FTAI’s 2026 special purpose vehicle (SPV), the second investment vehicle of its Strategic Capital business, acquired 17 737-700s leased to WestJet under a sale-and-leaseback arrangement. FTAI also acquired 10 off-lease aircraft for its Aerospace Products business.
The 2026 SPV was established to acquire mid-life 737NG and A320ceo aircraft that are already under lease. It follows FTAI’s 2025 SPV, which raised $2 billion in equity commitments and has committed about $6 billion of total capital across more than 300 aircraft, the company said.
The 10 off-lease aircraft will support FTAI’s Aerospace Products business by increasing its supply of CFM56-7B engines and modules for customers using its maintenance, repair and exchange services.
“We are pleased to expand our relationship with WestJet through this transaction,” said FTAI President David Moreno.
WestJet Executive Vice-President and Chief Financial Officer Mike Scott said the transaction marked the start of the airline’s retirement of its 737-700 fleet.
“We’re pleased to partner with FTAI Aviation Ltd. to make this happen, and we look forward to building on this relationship for future opportunities,” Scott said.
McGuireWoods advised FTAI on the transaction, while Borden Ladner Gervais (BD&P) advised WestJet.
