United Airlines sells, leases back aircraft in bid to conserve cash

The holding company above United Airlines will sell and lease back 22 planes to Bank of China Aviation (BOC Aviation), for an undisclosed sum.

The deal comprises six Boeing 787-9 aircraft and 16 Boeing 737-9 MAX aircraft from United Airlines, according to a BOC Aviation statement filed to the Hong Kong Stock Exchange on Sunday.

According to the terms of the transaction, the planes will be leased back to United Airlines on long-term agreements. The deal is expected to close sometime this year.

Singapore-based BOC Aviation is a global aircraft operating leasing company providing a fleet of 567 aircraft to 92 airlines in 40 different countries.

Bart Noëth: Since 1996, I have been working in the Belgian airline industry, from a weekend job as a cabin aircraft cleaner to a flight attendant. After the demise of Sabena - in 2001, I created a website called www.luchtzak.be, originally a meeting place for plane spotters and aviation freaks. Since 2017, the website changed into a professional news site. Next to aviation, I love to travel, wine and dine and enjoy my time off(-line) with my girlfriend, friends and family. My favourite football squad is KV Mechelen, I am an Ironman 70.3 finisher and my ambition is to complete a full Ironman.
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