BELLEVUE, Wash.--- Boullioun Aviation Services Inc., together with its Singapore Aircraft Leasing Enterprise affiliate, today announced transactions in which each lessor acquired two used Boeing 737-800 aircraft from Air Berlin and leased them back to the carrier.
Boullioun closed its transaction -- its third lease deal with Air Berlin -- on Oct. 31. S.A.L.E. finalized its first deal with the Berlin-based carrier late last week. Boeing originally delivered all four aircraft in 1998 to Air Berlin, which leases two additional 737-800s from Boullioun.
"As a repeat customer, we appreciate Boullioun's professionalism and expertise in arranging these transactions," Air Berlin Managing Partner Joachim Hunold said. "We are particularly impressed that both Boullioun and S.A.L.E. stood behind these transactions, which were agreed in principle before the Sept. 11 tragedies."
"We are delighted to build upon our strong relationship Air Berlin, and we are pleased to work alongside S.A.L.E. on these latest transactions with the airline," Boullioun president and CEO Robert J. Genise said.
Boullioun, founded in 1986 by aviation industry veteran E.H. "Tex" Boullioun, leases aircraft worldwide to airlines for itself and in collaboration with its affiliate, S.A.L.E., in which it holds a 35.5 percent stake. The two companies' combined portfolios contain 102 owned or managed aircraft with a total market value more than US$3 billion. Together, the two companies have 86 aircraft on firm order valued at more than US$4.8 billion, plus options.
Boullioun is owned by Westdeutsche Landesbank Girozentrale (WestLB) of Dusseldorf/Munster, Germany. With assets of more than 400 billion Euro (US$368 billion) and AA+/Aa1 credit ratings from Standard & Poor's and Moody's Investors Service, respectively, WestLB has offices in 35 countries and is among the world's strongest banks.
Boullioun, Singapore Aircraft Leasing Enterprise Team Up To Acquire 4 Boeing 737-800s From Air Berlin