BOC Aviation Commits to Eight A330-300 Aircraft Purchase-and-Leaseback Transaction With International Airlines Group
10 Jul 2012
BOC Aviation has committed to a purchase and leaseback transaction with International Airlines Group (“IAG”) for eight A330-300 aircraft scheduled to deliver from January 2013 through to April 2014.
Mr. Willie Walsh, Chief Executive Officer of IAG, the parent company of Iberia and British Airways, said “This landmark agreement with BOC Aviation is important as it brings financial and operational flexibility to our fleet plans as we introduce new aircraft into IAG.”
“Our first transaction with Iberia was for the purchase and leaseback of two A320 aircraft back in 1999,” said Mr. Robert Martin, Managing Director & Chief Executive Officer of BOC Aviation. “We are pleased to continue this long-term relationship via IAG with this significant transaction. This deal highlights our ability to assist our airline customers at important times by committing to fund large numbers of high value aircraft, which is one of the key factors that distinguishes BOC Aviation from its competitors.”
BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of 188 modern aircraft operated by airlines worldwide. The Company has 63 aircraft on firm order and another eight on committed purchase and leasebacks for delivery through to 2014. The Company has one of the youngest fleets in the industry with an average owned aircraft age of less than four years. BOC Aviation is the world’s highest publicly-rated aircraft leasing company with corporate credit ratings of A- from Fitch Ratings and BBB from Standard and Poor’s.
BOC Aviation is 100% owned by Bank of China, one of the largest banks in the world.
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