Aircraft Orders & Deliveries
Falko Closes First Regional Aircraft Sale in Japan via JOL Structure
Falko completes the sale of a Bombardier CRJ900 to a Japanese investor using a Japanese Operating Lease, marking its entry into the Japanese market.
This article is based on an official press release from Falko Regional Aircraft Limited.
Falko Regional Aircraft Limited (Falko), the world’s largest asset manager focused exclusively on the regional aircraft sector, has officially closed its first aircraft sale in the Japanese market. Announced on December 15, 2025, the transaction involves the sale of a Bombardier CRJ900 regional jet to a Japanese investor. The deal was structured as a Japanese Operating Lease (JOL), marking a significant expansion for Falko into a region traditionally dominated by larger narrowbody and widebody investments.
According to the company’s announcement, the transaction was executed in partnership with iStrings Aviation Capital Co., Ltd., a Tokyo-based aviation asset manager and subsidiary of Marubeni Corporation. This collaboration highlights a strategic push to introduce regional aviation assets to Japanese corporate investors, who have historically favored “liquid” assets such as the Boeing 737 or Airbus A320 families.
The sale utilizes the Japanese Operating Lease (JOL) structure, a financing mechanism widely used by Japanese corporate investors, often Small and Medium Enterprises (SMEs), to defer taxes by writing off asset depreciation against corporate profits. While JOL transactions are common in the aviation finance world, they are rarely applied to regional jets like the CRJ900.
Falko stated that iStrings Aviation Capital acted as the arranger for the deal, bridging the gap between the UK-based lessor and the Japanese investor base. iStrings, wholly owned by the major trading house Marubeni Corporation, specializes in arranging JOL and JOLCO (Japanese Operating Lease with Call Option) transactions.
Hirotoshi Takezoe, Director at iStrings Aviation Capital, commented on the evolving market dynamics in the press release:
“While regional jets have had a limited presence in the JOL space, we are now seeing growing investor interest as the market expands and the investor base diversifies.”
The Japanese aviation finance market is mature, hosting major global players and significant capital. However, the entry of a dedicated regional aircraft lessor signals a shift in investor sentiment. Regional jets, which typically seat between 50 and 150 passengers, offer a lower capital entry point compared to standard narrowbody aircraft. This “smaller ticket” size allows a broader range of corporate investors to participate in aviation leasing without the massive capital outlay required for larger jets.
Brian Foley, Head of Portfolio Strategy at Falko, emphasized this alignment in the company’s statement: “The ticket size for used E-Jet, CRJ and A220 aircraft types aligns well with the preferences of Japanese investors, and so we anticipate continued momentum and increased activity in the 50-150 seat aircraft segment.”
The successful closure of this CRJ900 deal suggests that the Japanese Operating Lease market is undergoing a period of diversification. For decades, the JOL market has been a stronghold for Airbus and Boeing narrowbodies due to their perceived liquidity and standardized value retention. Falko’s ability to close a deal on a regional asset indicates that Japanese investors are becoming more sophisticated, seeking yield and tax benefits in asset classes that were previously considered niche.
Furthermore, this transaction comes approximately one year after Falko’s acquisition by HPS Investment Partners, LLC, which was completed in December 2024. The move into Japan likely represents a strategic initiative under the new ownership to tap into Asian capital markets, diversifying Falko’s funding sources beyond its traditional western bases.
Falko Regional Aircraft Limited is headquartered in Hatfield, United Kingdom, and manages a portfolio of approximately 226 aircraft leased to 39 customers globally as of late 2024. The company specializes in the 70–150 seat segment, a critical component of the global aviation network that connects secondary cities to major hubs.
The deal also reinforces the role of iStrings Aviation Capital as a key intermediary in Tokyo. By facilitating the entry of specialized lessors like Falko, iStrings is effectively broadening the menu of available assets for Japanese corporate investors, moving beyond the commoditized narrowbody market.
Falko Enters Japanese Market with First Regional Aircraft Sale via JOL Structure
Transaction Structure and Strategic Partners
Market Context: A Shift Toward Regional Assets
AirPro News Analysis
Corporate Background
Sources
Photo Credit: Falko
Aircraft Orders & Deliveries
EgyptAir Receives First Airbus A350-900 to Modernize Fleet
EgyptAir accepts its first Airbus A350-900, starting a fleet overhaul with 16 aircraft to expand long-haul routes and improve efficiency.
This article is based on an official press release from Airbus and additional fleet data.
EgyptAir has officially taken delivery of its first Airbus A350-900, registered as SU-GGE, marking a significant milestone in the carrier’s modernization strategy. The handover, which took place on February 9, 2026, positions the Cairo-based airline as the first operator of the A350-900 in North Africa.
According to an official press release from Airbus, this aircraft is the first of 16 A350-900s ordered by the Egyptian flag carrier. The delivery underscores EgyptAir’s commitment to phasing out older wide-body jets while expanding its long-haul network capabilities to new destinations in North America and Asia.
The arrival of the A350-900 represents a pivotal shift in EgyptAir’s long-haul operations. The airline originally signed for 10 aircraft during the Dubai Airshow in November 2023, later expanding the commitment with a top-up order for six additional units. These new airframes are intended to replace the carrier’s aging Boeing 777-300ER fleet, offering improved operating economics and passenger comfort.
In a statement regarding the initial order, Yehia Zakaria, EgyptAir Holding Chairman and CEO, highlighted the flagship status of the new type:
“The A350-900 will be our flagship aircraft… adding the world’s most modern and efficient widebody aircraft to our fleet will be instrumental in expanding our offering.”
Christian Scherer, Chief Commercial Officer at Airbus, noted the economic advantages the aircraft brings to the airline’s network:
“The A350 is the one and only aircraft enabling EgyptAir to open up its network with benchmark economic efficiency, not to mention passenger comfort.”
EgyptAir has outlined a phased entry-into-service plan for the new fleet. Initially, the aircraft will be deployed on trunk routes to London and Paris to facilitate crew familiarization. Following this integration period, the airline plans to leverage the A350’s 9,700 nautical mile range to launch non-stop services to the U.S. West Coast and key Asian markets, including Shanghai, Beijing, and Tokyo.
The new A350-900 features a two-class configuration designed to maximize capacity while introducing updated premium amenities. According to fleet data, the aircraft accommodates a total of 340 passengers. Technological upgrades are a focal point of the new cabin. The aircraft is equipped with Panasonic Avionics’ Astrova in-flight entertainment system, providing 4K OLED screens and high-fidelity audio. Additionally, passengers across all classes will have access to USB-C fast charging ports and high-speed Wi-Fi connectivity.
The transition to the A350-900 aligns with broader industry sustainability goals. Powered by two Rolls-Royce Trent XWB engines, the aircraft is reported to burn 25% less fuel compared to the previous generation aircraft it replaces. This efficiency gain corresponds to a 25% reduction in CO2 emissions.
Furthermore, the A350 is recognized as the quietest aircraft in its class, possessing a noise footprint 50% smaller than older jets, a critical factor for operations at noise-sensitive airports in Europe and North America.
EgyptAir’s delivery secures its position as the sole active operator of the A350-900 in the North African region, a status solidified by the shifting strategies of its neighbors. While other carriers in the region had previously expressed interest in the type, market dynamics have led to cancellations and delays.
For instance, Air Algérie cancelled its order for A350-1000s in early 2025, opting instead for Airbus A330-900neos. Similarly, Tunisair cancelled its A350 commitments in 2013. Other regional orders, such as those from Libyan carriers Afriqiyah Airways and Libyan Airlines, remain stalled due to long-standing instability. Consequently, EgyptAir currently faces no direct regional competition operating this specific airframe, potentially offering it a product advantage on competitive routes connecting Africa to Europe and the Americas.
Sources:
EgyptAir Accepts Delivery of First Airbus A350-900, Initiating Major Fleet Overhaul
Fleet Modernization and Strategic Expansion
Operational Deployment
Cabin Configuration and Passenger Experience
Environmental Performance
AirPro News Analysis: Regional Market Context
Airbus Press Release
Photo Credit: Airbus
Aircraft Orders & Deliveries
India to Purchase $80B Boeing Aircraft in $500B US Trade Deal
India plans to buy up to $80 billion in Boeing aircraft within a $500 billion trade pact with the US, including tariff reductions and energy diversification.
This article summarizes reporting by CNBC and Priyanka Salve, alongside official government statements and AirPro News analysis.
In a landmark development for global aviation and trade, India has announced plans to purchase up to $80 billion in Boeing aircraft as part of a broader strategic partnership with the United States. According to reporting by CNBC, India’s Minister of Commerce and Industry, Piyush Goyal, confirmed that New Delhi expects to sign a formal trade deal with the U.S. in March 2026.
The aviation commitment is the centerpiece of a massive $500 billion trade pact intended to span the next five years. While the headline figure for Boeing jets stands between $70 billion and $80 billion, officials indicate that the total value of the aviation sector deal, including engines, MRO services, could exceed $100 billion.
This agreement signals a profound shift in India’s geopolitical and economic strategy, trading market access and energy realignment for relief from punitive U.S. tariffs.
The scale of the reported aircraft purchase underscores India’s position as the fastest-growing aviation market in the world. According to details shared by Minister Goyal and summarized by CNBC, the deal allocates a specific $70–$80 billion tranche for Boeing airframes.
Industry observers note that this figure likely aggregates the value of deliveries from existing record-breaking orders alongside new commitments. Air India, owned by the Tata Group, placed a historic order in 2023 for 470 aircraft (split between Boeing and Airbus) and finalized an additional order for 30 Boeing 737 MAX jets in January 2026. Similarly, Akasa Air holds a substantial order book extending through 2032.
Boeing executives have previously confirmed plans to deliver approximately two aircraft per month to Indian carriers to meet surging travel demand. The inclusion of engines and aftermarket services pushes the total aviation package over the $100 billion mark, cementing the U.S. aerospace giant’s foothold in South Asia.
Contextualizing the Order Book: While the $80 billion figure is staggering, we believe it is crucial to interpret this as a “delivery value” commitment over the five-year pact rather than solely a new purchase agreement for unannounced jets. At current list prices (after standard discounts), $80 billion represents roughly 600 to 800 narrowbody jets or a significant mix of widebodies. Given Boeing’s current backlog constraints, fulfilling $80 billion in entirely new orders within five years would be logistically improbable. It is more likely that the Indian government is guaranteeing the execution and payment of the massive backlogs already held by Air India, Akasa, and potentially SpiceJet, framing these commercial milestones as diplomatic victories. Beyond aviation, the trade deal outlines a reciprocal reduction in trade barriers. The United States has agreed to slash tariffs on Indian imports from 50% to 18%, a move expected to boost Indian exporters. In exchange, India has committed to purchasing $500 billion in American goods and services over five years.
A critical component of the negotiations involves India’s energy procurement. Following the invasion of Ukraine, India became a primary consumer of discounted Russian crude. However, the new trade framework reportedly includes provisions for India to shift away from Russian energy.
U.S. President Donald Trump explicitly claimed that Prime Minister Narendra Modi agreed to stop buying Russian oil. However, the Indian Ministry of External Affairs (MEA) has maintained a more nuanced public stance. MEA spokesperson Randhir Jaiswal emphasized that energy security remains the nation’s “supreme priority,” noting that India would diversify based on commercial viability. This includes potential resumption of imports from Venezuela and increased purchases from the United States.
“Energy security is the supreme priority [for India’s 1.4 billion citizens].”
— Randhir Jaiswal, MEA Spokesperson (via press briefing)
The trade deal has triggered sharp criticism within India. The opposition Congress party has characterized the agreement as a surrender of sovereignty, particularly regarding the pressure to alter energy partners and lower agricultural tariffs.
Opposition leaders Mallikarjun Kharge and Jairam Ramesh have voiced concerns that the influx of U.S. agricultural products could harm local farmers, warning of potential protests similar to those seen in 2021. Minister Goyal has defended the pact, asserting that it protects sensitive sectors like dairy and agriculture while securing essential technology and energy partnerships.
When will the deal be signed? Is the $80 billion for new planes only? What does the U.S. offer in return? Will India stop buying Russian oil?
Breakdown of the $100 Billion Aviation Commitment
Commercial Implications
AirPro News Analysis
The Broader Strategic Trade Pact
The “Russian Oil” Pivot
Domestic Opposition and Political Fallout
Frequently Asked Questions
According to Minister Piyush Goyal, the formal trade agreement is scheduled to be signed in March 2026, following a joint statement expected in early February.
The figure likely represents a mix of new commitments and the value of deliveries from existing massive orders (like Air India’s 2023 deal) scheduled for the next five years.
The U.S. has agreed to reduce tariffs on Indian goods from 50% to 18%, significantly improving market access for Indian exporters.
While the U.S. President claims an agreement is in place, Indian officials state they are diversifying energy sources based on commercial viability and security, without explicitly confirming a total ban.
Sources
Photo Credit: Daily Shipping Times
Aircraft Orders & Deliveries
CDB Aviation Delivers Three Boeing 737-8 Jets to WestJet in 2026
CDB Aviation delivers three Boeing 737-8 aircraft to WestJet, increasing leased jets to 13 and supporting fleet growth for summer 2026.
This article is based on an official press release from CDB Aviation.
On February 5, 2026, CDB Aviation announced the successful delivery of three Boeing 737-8 aircraft to WestJet. According to the official press release from the Irish subsidiary of China Development Bank Financial Leasing Co., Ltd., these deliveries mark the completion of a lease agreement originally announced in January 2024. The addition of these aircraft brings the total number of CDB Aviation-leased jets in the WestJet fleet to 13, reinforcing a strategic partnership that began in 2020.
The newly delivered aircraft are part of WestJet’s broader strategy to modernize its fleet and expand its network capacity for the 2026 summer schedule. By securing these airframes directly from CDB Aviation’s existing order book, WestJet has bypassed some of the manufacturing delays currently affecting the global aviation supply-chain. The airline continues to hold the largest narrowbody order book of any Canadian carrier.
The three Boeing 737-8s (commonly referred to as the MAX 8) were delivered on February 5, 2026. These aircraft were leased directly from CDB Aviation’s order book with Boeing, a mechanism that allows airlines to access capacity more quickly than through direct manufacturer orders in a constrained market.
According to data associated with the delivery, WestJet’s 737-8 fleet is typically configured to seat 174 passengers, split between 12 Premium seats and 162 Economy seats. The aircraft are equipped with satellite-supported Wi-Fi and in-seat power, aligning with the carrier’s focus on passenger connectivity. The 737-8 is powered by CFM LEAP-1B engines, which deliver approximately 15% greater fuel efficiency and a 40% reduction in noise footprint compared to the previous generation 737-800NG.
Both companies highlighted the strength of their ongoing relationship. Luís da Silva, Head of Commercial, Americas at CDB Aviation, emphasized the history between the two entities in a statement included in the release:
“We’ve built a strong partnership with the WestJet team since the inaugural transaction between our companies in 2020. To date, we have financed and leased a total of 13 737-8 aircraft which support this strong and growing Canadian airline.”
Jennifer Bue, Senior Vice President and Treasurer at WestJet, also commented on the significance of the delivery for the airline’s growth trajectory:
“CDB Aviation is a valued partner of WestJet. The relationship enables WestJet to continue our momentum driving our growth strategy.”
This delivery comes at a critical time for WestJet as the airline approaches a total fleet size of nearly 200 aircraft, including its subsidiaries. The additional capacity is slated to support an aggressive network expansion, including new international connections such as Toronto to Medellín, Colombia, and increased frequencies to sun destinations. The Role of Lessors in a Constrained Supply Chain
The delivery of these three aircraft highlights a vital trend in the 2026 aviation market: the increasing reliance on lessors to bridge the gap caused by OEM production delays. While manufacturers work to clear backlogs, lessors like CDB Aviation, who hold significant positions in the delivery queue, are becoming essential partners for airlines needing immediate lift. For WestJet, leasing directly from CDB’s order book allows them to circumvent the long wait times associated with direct orders, ensuring they can capitalize on the projected travel demand for the summer 2026 season. This transaction underscores that in the current climate, access to delivery slots is just as valuable as capital.
How many aircraft does CDB Aviation lease to WestJet? What is the primary benefit of the Boeing 737-8 for WestJet? When was this deal originally agreed upon?
CDB Aviation Delivers Three Boeing 737-8 Aircraft to WestJet
Transaction Details and Fleet Configuration
Aircraft Specifications
Executive Commentary
Strategic Implications for 2026
AirPro News analysis
Frequently Asked Questions
With the delivery of these three aircraft on February 5, 2026, CDB Aviation now leases a total of 13 Boeing 737-8 aircraft to WestJet.
The 737-8 offers significantly improved fuel efficiency (approximately 15% better than the 737NG) and a longer range (approx. 3,550 nm), allowing WestJet to operate routes like Western Canada to Europe or Toronto to South America more economically.
The lease agreement for these specific aircraft was originally announced on January 23, 2024.
Sources
Photo Credit: CDB Aviation
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