This transaction reflects ongoing trends in the aviation industry where leasing arrangements are utilized to optimize financial and operational flexibility.
Aergo Capital Limited (“Aergo”) has finalized a significant transaction involving the purchase and lease-back of eight Boeing 737-800 aircraft with WestJet, a major Canadian airline.
This strategic deal allows Aergo to acquire these aircraft from WestJet and then lease them back to the airline. This transaction marks Aergo’s first collaboration with WestJet. with this partnership Aergo, expands their fleet of leased aircraft, reinforcing their position in the aircraft leasing market.
Aaron McKay, Vice-President Treasury and Fleet, WestJet, said, “The successful completion of this agreement with Aergo marks another step forward in the execution of our ambitious growth strategy through strong financing relationships, We value the ease in which we were able to work with Aergo on this agreement and look forward to the future of this partnership.”
The Boeing 737-800 is a widely used model known for its fuel efficiency and reliability, making it a valuable asset for airlines operating both domestic and international routes. This transaction reflects ongoing trends in the aviation industry where leasing arrangements are utilized to optimize financial and operational flexibility.
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Fred Browne, Chief Executive Officer, Aergo, said, “We are thrilled to announce the completion of this purchase & lease-back transaction with WestJet. The eight B737s are an excellent addition to our growing portfolio. This marks our first transaction with WestJet, and we are particularly pleased to add another Canadian carrier to our client base. We look forward to an ongoing relationship with the airline. I would like to thank all who were involved in executing this deal so smoothly and expeditiously.”
Smith Gambrell & Russell, LLP acted as lead counsel for Aergo in the transaction, while PK AirFinance served as the sole lender.
