Industry BOC Aviation signs PLB agreements with two airlines

Leasing company BOC Aviation Limited has signed two purchase-and-leaseback agreements with Southwest Airlines and Wizz Air. In total, the company will purchase 16 aircraft from Airbus and Boeing and will directly lease them back to the carriers.

Wizz Air will receive six Airbus A321neo aircraft over the course of this and next year. All six aircraft will be equipped with Pratt & Whitney GTF™ PW1100G-JM engines, underlining the state-of-the-art status of the aircraft.

József Váradi, Chief Executive Officer of Wizz Air said: "The six new Airbus A321neo aircraft will expand our fleet and further strengthen our aim to fly the greenest and most efficient aircraft currently available. In these unprecedented times, Wizz Air is strongly committed to its aircraft order and today's development reinforces our goal to stay the most efficient, most productive and financially one of the best-performing airlines in Europe."

Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation, added: “We are very pleased to be supporting Wizz Air once again as a strategic partner in the airline’s long-term fleet plan as it maintains its position as a market leader in Central and Eastern Europe.”

U.S.-low-cost carrier Southwest Airlines will receive a total of 10 Boeing B737 MAX8 aircraft. All planes are being powered by CFM LEAP-1B engines. Southwest has been a long-standing customer with BOC Aviation.

Martin confirmed: “We are delighted to be working with Southwest Airlines once again, building on a long-term relationship that dates back to 2008. This is the sixth major aircraft investment that we have announced this year, which reflects our Company’s ability to provide innovative financing solutions for large-volume transactions and our commitment as a global partner to our airline customers.”

BOC Aviation is one of the leading leasing companies for aircraft. It currently owns, manages and has ordered 567 aircraft. The aircraft are leased to 92 airlines around the world. BOC Aviation has offices in Dublin, London, Tianjin and New York, while the headquarter is located at Singapore.