StarFlyer to Lease LEAP-1A26 Spare Engine from Engine Lease Finance

StarFlyer has approved a 10-year lease for one LEAP-1A26 spare engine from Engine Lease Finance Corporation (ELFC), with the lease scheduled to begin in December 2027.

The Japanese airline expects total lease payments of approximately ¥3.3 billion over the planned 10-year term.

StarFlyer said the additional spare engine is needed to support planned engine maintenance associated with aircraft lease returns and engine component replacements, as well as unexpected maintenance events. The airline also cited tight global engine supply and difficulties obtaining replacement engines at short notice.

The company said securing the spare engine for at least the next 10 years will help maintain stable flight operations. StarFlyer opted to lease the engine to make more efficient use of its capital.

ELFC, based in Shannon, Ireland, is wholly owned by Mitsubishi HC Capital. StarFlyer already has an existing aircraft engine leasing relationship with the company.

StarFlyer’s board approved the transaction on August 27, with the lease agreement expected to be signed during August 2026. The airline said the transaction will not affect its financial results for the current fiscal year.