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BOC Aviation and Southwest Airlines sign second sale/leaseback deal

6th April 2009 - 11:25 GMT | by The Shephard News Team


BOC Aviation has entered into a second purchase and leaseback (PLB) transaction with Southwest Airlines, less than four months after signing the first deal for 10 aircraft in December 2008.

The transaction comprises six Boeing 737-700s on lease for an average period of 14 years. The first tranche of three aircraft closed on 2 April, and the second tranche is expected to close in the second quarter of 2009, subject to documentation and customary closing conditions, when the last aircraft is delivered from Boeing’s facility in Seattle.

“With a strong financial position and counter-cyclical strategy, we are actively growing our fleet amidst the global economic downturn,” said Steven Townend, chief commercial officer and deputy managing director of BOC Aviation. “Southwest is one of the world’s leading low-cost carriers and we are delighted to have the opportunity to work with this airline again.”

The Shephard News Team


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