Aircraft Engine Lease Finance ("AELF") announced the completion of a $55 million line of credit provided by Indiana-based Merchants Bank. The financing will be used for the acquisition of commercial aircraft as AELF continues to expand its fleet.

"Merchants Bank has been a key partner in AELF's development, and we are very pleased to continue to expand that relationship as we grow the fleet and diversify our stable of high-quality airline partners," said Phil Scruggs, Board Member for AELF.

AELF has been a borrower from Merchants Bank since 2019. This line of credit consolidates and expands on AELF's existing borrowings with the lender. The privately held leasing company is actively growing its fleet of mid-life commercial aircraft with the addition of several 737 NGs and A330s in recent months, and negotiations on a host of additional acquisitions underway.

"Our partnership with AELF has been incredibly valuable as we continue to support their vision and innovation in the industry," said Ariana Meiser, Market President of Merchants Bank. "We strive to work alongside organizations like AELF and look forward to being part of their continued growth for years to come."