BOC Aviation buys two Boeing aircraft from Turkish Airlines for undisclosed sum

BOC Aviation said Thursday it would buy two Boeing 777-300ER aircraft from Turkish Airlines for an undisclosed sum as the aircraft lessor builds its balance sheet by investing in in-demand aircraft. The aircraft, which will be leased back to the airline, have an aggregate full life current market appraised value of about $322 million, the Hong Kong-listed firm said in a filing to the stock exchange. BOC Aviation, which operates a fleet of 494 aircraft, will fund the deal through cash on hand, loans and other borrowings. The deal is expected to be completed in April. The deal came about a month after BOC Aviation bought two Boeing 747-8 freighter aircraft for an aggregate list price of US$758.2m.<br/>