BOC Aviation Enters into Purchase-and-Leaseback Deal with Alaska Airlines
24 Feb 2009
BOC Aviation has concluded a purchase-and-leaseback (PLB) deal with Alaska Airlines for six Boeing 737-800 aircraft. All the aircraft will be leased for a period of 12 years. The first tranche of three aircraft was closed last week, and the second tranche is expected to close by end of February.
“This is our first PLB transaction for 2009 and we are on target to do more in the coming months,” said Steven Townend, Chief Commercial Officer and Deputy Managing Director of BOC Aviation. “With this transaction, we now have more than 100 aircraft in our portfolio. We are very happy to welcome Alaska Airlines, one of the leading carriers in USA, to our growing customer base and look forward to the long-term partnership.”
BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 101* modern aircraft operated by airlines worldwide. In addition, the company has 70 aircraft on firm order for delivery through to 2013. BOC Aviation has one of the youngest fleets in the industry with an average aircraft age of less than four years.
BOC Aviation is 100% owned by Bank of China, the third largest bank in the world**.
Alaska Airlines and Horizon Air, subsidiaries of Alaska Air Group, together serve more than 90 cities through an expansive network in Alaska, the Lower 48, Hawaii, Canada and Mexico.
*Excluding the second tranche of three aircraft.
**Based on market capitalization as at 20 February 2009.