American seeks SLB with ILFC for 16 aircraft

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American Airlines is seeking court approval for a sale and leaseback (SLB) of 16 Boeing aircraft with the International Lease Finance Corporation (ILFC).

The deal includes 15 737-800s that will be delivered between May and December 2014, and one 777-300ER that will be delivered in March, according to a filing with the US Bankruptcy Court for the Southern District of New York on 5 February.

Fort Worth-based American must receive court approval for all of its aircraft deals while operating under chapter 11 bankruptcy protection.

The carrier has received court approval for SLBs with AerCap, Avolon Aerospace Leasing, ILFC and Guggenheim Aviation Partners since entering bankruptcy in November 2011.

American and ILFC completed a deal for 15 737-800s this past November.

Wilmington Trust is trustee of the proposed SLB. SkyWorks Capital acted as financial adviser to American on the deal.