United sells 22 planes to Bank of China Aviation [Yahoo! Finance News]
United Airlines Holdings, Inc. (UAL)
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Source: Yahoo! Finance News
By Scott MurdochHONG KONG, April 19 ) - United Airlines will sell and lease back 22 planes to Bank of China BOC) Aviation, a statement from the aircraft investor released to the Hong Kong Stock Exchange said on Sunday.The deal involves six Boeing 787-9 aircraft and 16 Boeing 737-9 MAX aircraft from United Airlines, the statement said.The Singapore-based BOC Aviation did not reveal how much the purchase was worth but said the planes would be leased back to United on long-term agreements.United said on Wednesday it had reduced its flight schedule in May by 90% and expects similar cuts for June as a result of the coronavirus pandemic.The U.S. airline also said it flew less than 200,000 people in the first two weeks of April, a 97% drop from the more than 6 million people it flew during the same time in 2019.BOC Aviation, which focuses on aircraft leasing, has a fleet of 567 planes owned, managed or on order as at the end of March, the statement saidThe transaction was finalised on Friday
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