Engine Lease Finance (ELFC) has signed an agreement with Macquarie Bank to acquire 47 aircraft engine assets for an undisclosed amount.
As a result of the acquisition, ELFC’s owned and managed aircraft engine portfolio will increase to 300 aircraft engines.
Subject to the necessary consents, ELFC will also assume the servicing of a portfolio of seven additional engines owned by a third party, which is expected to further increase ELFC’s engine portfolio.
The transaction is expected to be completed in the fourth quarter of 2011.
The transaction will also extend ELFC’s existing customer base to more than 80 airlines and maintenance, repair and overhaul companies, the company said.
Ireland-based ELFC is owned by BTMU Capital of Boston, a wholly owned subsidiary of the Bank of Tokyo Mitsubishi UFJ.
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