BOC Aviation to Lease Two New Embraer E190 Aircraft to TUI Travel Plc
01 Oct 2012
BOC AVIATION TO LEASE TWO NEW EMBRAER E190 AIRCRAFT TO TUI TRAVEL PLC
BOC Aviation has signed agreements for the lease of two new EMBRAER 190 (“E190”) aircraft to TUI Travel plc (“TUI”). Both aircraft are scheduled to be delivered in the first half of 2013 and will be operated by Jetairfly, a subsidiary of TUI. This transaction marks the first time that the E190 aircraft will be operated by a charter tour operator.
“BOC Aviation has convinced us of the operational efficiency of the E190 aircraft for our type of business. We’ve identified a growing need for leisure flying with a 100-seat aircraft, where the E190 will be ideally suited,” stated Mr. Elie Bruyninckx, Chairman of Jetairfly. “With the E190, we can reduce the number of costly triangle and intermediate-stop flights that are necessary with our larger airplanes to consolidate loads in smaller markets. That means more nonstop flights and shorter travel times for our passengers. It’s a tremendous advantage in our business.”
Mr. Tom Chandler, Director of Aircraft Acquisition and Finance at TUI Travel plc, added "BOC Aviation and Embraer were both very responsive in meeting our needs. We are pleased to have this opportunity to expand our existing relationship with BOC Aviation and establish our relationship with Embraer who are both proactively supporting the introduction of this new aircraft type to the Jetairfly fleet."
“Jetairfly’s selection of the E190 is a wonderful endorsement of the versatility of the aircraft and a recognition of the aircraft’s role in the tour industry, which is a new business application for the E-Jets family,” said Paulo Cesar Silva, President of Embraer Commercial Aviation. “I’m equally pleased to build on our partnership with BOC Aviation and in working together to open up new markets providing the world’s airlines with aircraft that support superior operational efficiencies.”
“We are able to close this transaction with TUI because we have a very close working relationship with them and understand the economics of their business. I am also very pleased to work with Embraer and that our track record of adding value to airframe manufacturers is once again affirmed,” said Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation.
BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 194 owned and managed aircraft operated by airlines worldwide and another 60 aircraft on firm order. The Company has one of the youngest fleets in the industry with an average owned aircraft age of less than four years.
Jetairfly is a Belgian airline that was founded in November 2003 and started operations in March 2004. It has grown to be the second largest airline in the country (more than 2 million passengers in 2011). Jetairfly has a fleet of 20 aircraft that are deployed on medium and long-haul routes. Thanks to an intensive fleet modernization program, Jetairfly has the youngest and most modern fleet in Belgium. The airline flies to 99 destinations (145 routes) during the summer and to 46 destinations (60 routes) during the winter. Flights depart from Brussels, Ostend, Liège and Charleroi.
About TUI Travel PLC
TUI Travel PLC is one of the world’s leading international leisure travel groups operating in approximately 180 countries worldwide. It serves more than 30 million customers in over 31 source markets. Headquartered in the UK, the Group employs approximately 53,000 people and operates a pan-European airline consisting of 145 aircraft. The Group is organised and managed through four business Sectors: Mainstream, Specialist & Activity, Accommodation & Destinations and Emerging Markets. In the financial year ended 30 September 2011, TUI Travel reported revenues of £14.7bn and an underlying operating profit of £471m.
TUI Travel is listed on the London Stock Exchange as a member of the FTSE 250 and FTSE4Good Indices.
For more information visit www.tuitravelplc.com
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Tel: +65 9710 0790