BOC Aviation Enters into Purchase-and-Leaseback Deal with Air Canada
19 Mar 2008
BOC Aviation has finalised agreements with Air Canada for the purchase and leaseback of two new Boeing 777-300ER aircraft. Scheduled for delivery to Air Canada from the US manufacturer in March and April this year, the aircraft will be leased to the airline for a period of 12 years each. These aircraft are part of Air Canada’s current order with Boeing.
This is the first contract between BOC Aviation and Air Canada. The two aircraft are the eleventh and twelfth Boeing 777 aircraft acquired by BOC Aviation since inception in 1993. Six of them currently remain in the portfolio.
“We are pleased to have Air Canada as a customer and participate in their fleet renewal program”, said Steven Townend, BOC Aviation’s Chief Commercial Officer. “With this transaction, we are expanding our fleet of widebody aircraft and presence in the North American market.”
BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 79 modern aircraft operated by airlines worldwide. In addition, the company has 62 aircraft on firm order for delivery through to 2013.
BOC Aviation is 100% owned by Bank of China.