Lion Air inks SLB on six 737-800s with Avolon

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Lion Air has signed a sale and leaseback transaction covering six Boeing 737-800 aircraft with operating lessor Avolon.

The Indonesian low-cost carrier has already received one delivery, MSN 38728, in February, Flightglobal's Ascend Online database shows. This aircraft will be operated by Malindo Airways, according to Ascend.

Singapore-based Transportation Partners structured the deal, say market sources.

Last week, the US Export-Import Bank approved $1.1 billion in financing support for Lion Air's purchase of Boeing 737 aircraft.

The financing will support a portion of the low-cost carrier's outstanding orders for 737-900ER aircraft, which includes the 230 737 aircraft ordered in November 2011.

The aircraft will be delivered to Lion Air, its Malaysian subsidiary Malindo Airways and its Indonesian subsidiary Batik Air.

Apple Bank for Savings in New York is the guaranteed lender on the financing package.

Additional funding may be provided by capital markets investors through a guaranteed bond guaranteed, says Ex-Im.