BOC Aviation signs second purchase and leaseback deal with Southwest Airlines

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 last year. The transaction comprises six Boeing 737-700 aircraft 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.