AerSale acquires 19 of JAL’s Boeing 747-400s

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Upstart lessor AerSale has acquired Japan Airlines' (JAL) fleet of 19 Boeing 747-400 passenger aircraft.

JAL filed for bankruptcy protection in January of this year, and is retiring and phasing out more than 100 aircraft.

AerSale believes the 747s, powered by GE CF6-80C2B1F engines, "will continue to fly, whether as passenger aircraft or as freighters".

However, the company does say it is proceeding to disassemble a few of the aircraft and a "good many" of the engines powering the 747s as part of its strategy to become "the leading provider of aftermarket CF6-80C2 engines and material".

Launched in March 2009, AerSale says it focuses on the mid-life, current technology airliner aftermarket. Its strategy is to offer aircraft lease and trade solutions with the intent of eventually disassembling the aircraft for parts.

AerSale was founded by former executives of AeroTurbine Nick Finazzo and Bob Nichols. At the time of launch, the company said its business plan included acquiring more than a billion dollars worth of assets in five years.