FARNBOROUGH: BOC Aviation signs A330 purchase and leaseback deal with IAG

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BOC Aviation has signed a commitment agreement to acquire eight Airbus A330-300 aircraft from International Airlines Group (IAG) under a purchase and leaseback transaction.

The aircraft are scheduled to deliver from January 2013 through to April 2014.

IAG signed a memorandum of understanding with Airbus for eight A330-300s plus options on a further eight in March 2011. It confirmed the order last July and selected General Electric CF6 powerplants. The aircraft will be used to replace subsidiary Iberia's A340 fleet.

Willie Walsh, chief executive officer of IAG, says: "This landmark agreement with BOC Aviation is important as it brings financial and operational flexibility to our fleet plans as we introduce new aircraft into IAG."