Boullioun Announces Lease of Boeing 737-300 to Ukraine International

BELLEVUE, Washington -- Boullioun Aviation Services Inc., one of the world's premier aircraft operating lessors, today announced a medium-term lease with Ukraine International Airlines for a 1997-vintage Boeing 737-300 aircraft. This lease marks Boullioun's first transaction with Ukraine International.

Boullioun delivered the aircraft, equipped with CFM56-3C1 engines, on Friday. With its arrival, Ukraine International's fleet grows to nine modern Boeing 737 aircraft. Ukraine International provides passenger and cargo transportation from its base in Ukraine to 20 international destinations throughout Europe.

"Thanks to steady growth in passenger and cargo traffic, we continue with our ability to steadily add aircraft while maintaining our commitment to operating the most modern and highest quality fleet in the region," said Richard Creagh, Deputy President of Ukraine International. "We were fortunate that Boullioun Aviation's portfolio focus matched well with our needs, and we appreciate Boullioun's assistance in helping us add another modern Boeing 737 to our fleet."

"While much of the focus in today's market rests on the carriers in Asia, Eastern Europe also provides a positive area for growth for the airline industry, and a source of opportunity for aircraft lessors," said Boullioun President and CEO Robert J. Genise. "We're always pleased to play a part in the success of a trailblazing carrier such as Ukraine International, and we wish it continued success in its growing market."

Boullioun, founded in 1986 by aviation industry veteran E.H. "Tex" Boullioun, leases aircraft worldwide to airlines. Boullioun's portfolio contains 115 owned or managed aircraft with a total market value over US$3.7 billion. The company has 11 aircraft on firm order valued at nearly US$700 million, plus options. Since 1995, Boullioun has, on behalf of itself and third parties, placed 205 aircraft on lease with 88 airlines, concluded sale and leaseback and other back-to-back transactions involving 57 aircraft, and sold 74 aircraft to airlines and investors.

Boullioun is owned by WestLB AG of Dusseldorf, Germany. With assets of more than 267 billion Euros and AA-/Aa2 credit ratings from Standard & Poor's and Moody's Investors Service, respectively, WestLB is one of the largest commercial banks operating on an international scale.

Source: PR Newswire