The purchase-and-leaseback arrangement allows Frontier to maintain a strong fleet with the latest technology while securing immediate capital through the sale of the aircraft.
BOC Aviation Limited has signed purchase-and-leaseback agreements with existing customer Frontier Airlines, Inc. (“Frontier”) for 15 new Airbus A320NEO aircraft. The deliveries of these aircraft are slated for 2025 and 2026. Frontier Airlines operates 148 A320 family aircraft and has the largest A320NEO family fleet in the U.S.
Robert Fanning, Vice President of fleet, Frontier Airlines, said, “BOC Aviation has been a highly valued business partner of Frontier Airlines for the past two decades, and we are thrilled to continue that partnership with these latest agreements, These 15 new A320NEOs will further support the continued growth of our company.”
BOC Aviation is an aircraft operating and leasing company with a fleet of 680 aircraft owned, managed, and on order. Its owned and managed fleet was leased to 93 airlines in 47 countries and regions worldwide.
Steven Townend, Chief Executive Officer, and Managing Director, BOC Aviation, said, “We are excited to be working again with long-time customer Frontier, which is the largest A320NEO operator in the United States, This transaction leverages our strong available liquidity and builds on our solid existing pipeline of aircraft scheduled for delivery beyond 2024, as we expand both our revenue base and our fleet of latest generation aircraft.”
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The purchase-and-leaseback arrangement allows Frontier Airlines to maintain a strong fleet with the latest technology while securing immediate capital through the sale of the aircraft. BOC Aviation, in turn, adds these high-demand, state-of-the-art planes to its portfolio, further strengthening its position in the global aviation market.
