BOC Aviation’s First Embraer Aircraft Purchase and Leaseback Transaction
05 Dec 2011
BOC Aviation has entered into its first purchase and leaseback transaction for Embraer aircraft with Azul Linhas Aéreas Brasileiras S/A (“Azul”). The transaction, signed last month, comprises four new E195 aircraft on long term lease with the airline. Two of the aircraft have been delivered and the remaining two are scheduled for delivery by second quarter next year.
Mr. David Neeleman, Founder and Chairman of the Board of Azul, said “Azul is accelerating our network and fleet growth due to immense opportunities in the Brazilian market. This transaction with BOC Aviation gives us operational and financial flexibility in the management of our fleet.”
Mr. Steven Townend, Deputy Managing Director and Chief Commercial Officer of BOC Aviation, said “This is a momentous occasion for BOC Aviation as the transaction marks our entry into the Embraer purchase and leaseback market. We see good potential for this aircraft type and are delighted to welcome Azul, one of the fastest growing carriers in Latin America, as a new customer.”
BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 183 modern aircraft operated by airlines worldwide. In addition, the Company has 71 aircraft on firm order and another two aircraft on committed purchase and leaseback. BOC Aviation has one of the youngest fleets in the industry with an average aircraft age of less than four years.
BOC Aviation announced its first order for fifteen Embraer 190 aircraft in November 2011. The E190 aircraft are scheduled to be delivered from 4Q2012 through to 2014.
For more information, please contact:
Tel: +65 6325 9638