Aerotask Closes Sale of Aero Contractors’ 737-400

Aerotask has successfully closed the sale of Boeing 737 Classic MSN 24558 to Eastok Avia FZC, an UAE based aircraft Lessor.

The aircraft, which was owned by Aero Contractors of Nigeria, had been put into storage while the airline focused efforts on its corporate shuttle services and restructuring its scheduled operations. As part of the restructuring process, Aerotask was tasked with assisting the airline to convert some of its non-core assets into liquidity. After undergoing maintenance and reconditioning, the aircraft will join Yanair’s growing fleet of narrowbody aircraft.

“Given the aircraft’s age, condition and the challenging circumstances surrounding the sale, this transaction is another testament to Aerotask’s expertise in moving difficult assets. We are excited to have added such a quality transaction to our deal book, which already exceeds 4 aircraft placed in 2018.” said Robert Sitta, VP Asset Management at Aerotask.

Aerotask is a Dubai-based global aviation consultancy providing Asset Management and Financial Solutions to airlines, lessors, financiers and aviation investors worldwide.