American and ILFC SLB for 16 aircraft approved

Washington DC
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The bankruptcy court has approved a sale and leaseback (SLB) of 16 Boeing aircraft between American Airlines and the International Lease Finance Corporation (ILFC).

The deal includes 15 737-800s to be delivered between May and December 2014, and one 777-300ER that will be delivered in March.

The Bankruptcy Court for the Southern District of New York approved the deal on 27 February. American and ILFC requested approval on 5 February.

American and ILFC completed a separate SLB for 15 737-800s in November 2012.

Wilmington Trust is trustee and SkyWorks Capital was financial adviser to American on the deal.