AELF Completes $31 Million Financing With Absa Bank Group

Latest In a Series of Asset-Backed Financings for the Lessor as It Increases Fleet Size, Borrowing Capability to Fund Additional Growth

CHICAGO, IL / ACCESS Newswire / July 7, 2025 / Aircraft Engine Lease Finance, Inc (“AELF”) announced today it has completed a $31 million loan with South Africa-based Absa Bank Group. The loan is collateralized by an A330-300 on lease to South African Airways which was recently acquired by AELF from a consortium of lenders including Deutsche Bank, Societe General and Credit Agricole.

“AELF is actively engaging financing partners around the world, significantly increasing its purchasing power and variety of capital resources,” said Phil Scruggs, AELF Board Member. Over the last 12 months, AELF has announced substantial borrowings from a number of global lending partners including Merchants Bank, Investec, Nedbank and now Absa.

“Absa makes a great addition to our stable of lending partners, further empowering AELF to reliably commit to and close deals opportunistically,” said Joe Cirillo, Chief Commercial Officer of AELF. “As we grow our portfolio, maintaining a small and familiar group of capital partners strengthens our ability to capture the anomalous value we identify in the market”

“We are proud to support Aircraft Engine Lease Finance Inc. in enabling the return of an aircraft to the South African Airways fleet,” said John Zama, Director: Structured Asset Finance at Absa Corporate and Investment Banking. “This is a milestone that strengthens regional aviation capacity and supports the broader recovery of the sector. This transaction reflects our ability to deliver bespoke, asset-backed funding solutions in complex, highly regulated industries, while contributing to skills development, job creation, and infrastructure resilience across South Africa’s aviation value chain.”

ABOUT AELF

Aircraft Engine Lease Finance Inc. (“AELF”) is an experienced commercial aircraft lessor. Based in Chicago, AELF offers customized and flexible financing solutions to airlines, lessors, banks and non-traditional aircraft owners. AELF has been in operation for over a decade and is continually expanding its commercial aircraft and engine portfolio. Learn more at www.aelfinc.com.

ABOUT ABSA GROUP LIMITED

Absa Group Limited (‘Absa Group’) is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.  Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance. 

Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Kenya and South Africa. Absa also has offices in the People’s Republic of China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.

For further information about Absa Group Limited, visit www.absa.africa.

SOURCE: Aircraft Engine Lease Finance, Inc. (AELF)

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