Boullioun Announces Lease of Two Boeing 737-800s to SunExpress
Delivery of Used Aircraft Marks First Transaction Between Boullioun & Turkish Charter Operator
BELLEVUE, Wash., Feb. 8 /PRNewswire/ -- Boullioun Aviation Services Inc. (http://www.boullioun.com), one of the world's premier aircraft operating lessors, today announced a medium-term lease with SunExpress (http://www.sunexpress.com.tr) for two 2001-vintage Boeing B737-800 aircraft. This lease is Boullioun's first with the holiday airline that operates flights between Germany and other European countries and tourist destinations in southern Turkey.
Boullioun delivered the first aircraft on Friday, and the second aircraft is scheduled to be delivered during the next quarter. Both aircraft are equipped with CFM56-7 engines. With their arrival, the two leased aircraft will bring SunExpress' fleet to nine B737-800s. SunExpress, formed in 1989, is privately owned by Turkish Airlines and Thomas Cook.
"We enjoyed a strong year in 2004, increasing our income and the number of passengers we carried, thanks in large part to the support of our tour operator customers and the excellent performance of our team," said Paul Schwaiger, Managing Director of SunExpress. "Our recent success, combined with what we anticipate will be increased demand in the Turkish tourism market, led us to decide this was the perfect time to work with a leading lessor such as Boullioun to quickly and efficiently increase the size of our fleet."
"We've greatly enjoyed working with SunExpress through this process. As with the other holiday airlines we've had the good fortune to work with, we've found the SunExpress team to be very nimble and easy to work with," said Boullioun President and CEO Robert J. Genise. "We appreciate SunExpress' willingness to become the second new customer we've added in 2005, and we wish the company good fortune as it expands its fleet and the number of flights it will provide its tour operator customers."
Boullioun, founded in 1986 by aviation industry veteran E.H. "Tex" Boullioun, leases aircraft worldwide to airlines. Boullioun's portfolio contains 119 owned or managed aircraft with a total market value over US$3.7 billion. The company has 14 aircraft on firm order valued at over US$1 billion, plus options. Since 1995, Boullioun has, on behalf of itself and third parties, placed 203 aircraft on lease with 87 airlines, concluded sale and leaseback and other back-to-back transactions involving 57 aircraft, and sold 68 aircraft to airlines and investors.
Boullioun is owned by WestLB AG of Dusseldorf, Germany. With assets of more than 267 billion Euros and AA-/Aa2 credit ratings from Standard & Poor's and Moody's Investors Service, respectively, WestLB (http://www.westlb.com) is one of the largest commercial banks operating on an international scale.
EDITORIAL CONTACTS:
Tony Jacob, Jacob Public Relations: 425-806-3775; tjacob@jacobpr.com
John Willingham, Boullioun Aviation Services: 425-454-3106;
jwillingham@boullioun.com
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