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BOC Aviation sale-and-leaseback with Virgin Blue

2nd March 2009 - 11:40 GMT | by The Shephard News Team

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BOC Aviation has closed a purchase-and-leaseback (PLB) deal with Virgin Blue Airlines for one late-2008 vintage aircraft and three new Boeing 737-800 aircraft. The aircraft will be leased for an average lease term of 10 years, with delivery of the three new aircraft scheduled for the fourth quarter of this year.

Steven Townend, Chief Commercial Officer and Deputy Managing Director of BOC Aviation, said the company is pleased to increase its presence in Australasia with this transaction. “Virgin Blue is an established name in the Australian market for business and leisure travel,” he remarked. “We continue to deliver on our expansion plans and are happy that the airline can partner us as we grow our fleet.”

Brett Godfrey, chief executive of Virgin Blue, commented, “The financing of these aircraft amidst the challenging economic environment is an affirmation of Virgin Blue’s strong reputation in the market. We look forward to a long-lasting business relationship with BOC Aviation.”

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