London, 24th September 2013: AJW Aviation has signed a three year contract with the Engine Lease Finance Corporation (ELFC) to become long term engine consignment partners. AJW provides complete aircraft spares support to a global portfolio of more than 800 airlines and operators and this represents an important source of high value engine spares for the Company’s inventory. The contract covers end of lease engines which, once consigned to AJW, will be torn down for parts, to be repaired and marketed for sale globally to airlines and MRO organisations.
ELFC is the world’s leading independent spare engine financing and leasing company, specialising in the provision of flexible, medium to long-term spare engine support packages for the airline industry with over 280 engines available for lease and a combined asset value of $1.8 billion. Headquartered in Shannon, Ireland, the company is owned by BTMU Capital Corporation of Boston, USA, which is a wholly-owned subsidiary of The Bank of Tokyo Mitsubishi UFJ, Ltd. one of the world’s largest financial institutions.
“For AJW to partner with one of the world’s most significant leasing brands is indicative of our global reach and reputation for delivering innovative aircraft engine solutions” comments Steve Williams, Director of Aircraft Engine Services at AJW Aviation. “We are firmly committed to reducing our customers’ overall engine operating costs and have been actively building our engine lease inventory to offer a more high quality engine parts inventory to our customers.”