AELF Taps Turbo Resources For Surplus Inventory Consignment

CHICAGO—Aircraft Engine Lease Finance (AELF) has partnered with aftermarket parts provider Turbo Resources on consignment of its surplus aircraft and engine parts.

According to AELF, the company has accumulated an inventory of spare parts from its fleet over the past decade due to normal operations and part-outs, including parts from Airbus A330-200, A340-300, Boeing 767-300 and 737 Classic aircraft. These parts have previously been housed in AELF’s Miami facility and will now go to Chandler, Arizona-based Turbo Resources as part of a three-year consignment arrangement. Turbo Resources will handle inspection and repair of the parts.

“As we focus our energies on the leasing and trading aspects of our business, we always look for ways to streamline our activities and create greater efficiency,” says Jerry Michael, fleet manager at AELF. “Engaging with a specialist partner like Turbo Resources International for the disposition of excess material makes good business sense for us at this time."

Turbo Resources President Daniel Hoffman says the deal extends the company’s longstanding relationship with AELF, adding that he is confident the surplus stock material “will produce the highest possible returns.” AELF tells Aviation Week that Turbo Resources has been a “long-time supplier of aircraft parts to AELF,” and the company acquired an A340-300 airframe from AELF in 2018.

AELF’s current leased portfolio includes A330-200s, A330-300s and 737-800s, as well as CFM International CFM56-5C4s and a GE Aerospace CF6-80E1 and CF6-80C2.

In the first quarter of this year, AELF has sold three engines and three A330-200 airframes. It sold two General Electric CF6-80Es to AerSale and a Pratt & Whitney PW4168A to LGM Aviation. AELF sold one of the A330-200s to Setna iO and two to Wyatt Aerospace.

A representative for AELF tells Aviation Week that it: “collaborates with third-party MROs and selects them on a case-by-case basis. The selection process is based on criteria such as the MRO’s ops spec, slot availability, manpower and pricing.”