AerFin is set to acquire Saudia's fleet of fifteen E170 aircraft, the end-of-life specialist has announced. The Saudia (SV, Jeddah International) fleet was retired during the course of 2016, with the last commercial flight occurring on December 19, 2016.

The acquisition, which was remarketed by Airstream International Group, includes all the spare parts, engines, tooling and equipment that goes along with supporting the fleet.

In its statement, AerFin says that it plans to lease out some of the Embraer aircraft, while others will be used for parts.

"The Saudia EMB-170 fleet is barely 11 years old and, while we expect some aircraft to be reduced to spares, 8 aircraft had D checks within the past 12 months and provide excellent lease candidates," AerFin CEO Bob James said.

James added that the size of the acquisition is well-placed to position the leasing company as the leading EJet spares and aftermarket services provider. "Securing this volume and quality of product was key to delivering on our strategy to offer the lowest possible EJet spares maintenance costs world-wide."