April 27, 2017 / 1:23 AM / 3 months ago

BOC Aviation buys two Boeing aircraft from Turkish Airlines for undisclosed sum

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HONG KONG, April 27 (Reuters) - BOC Aviation Ltd said on Thursday it would buy two Boeing 777-300ER aircraft from Turkish Airlines for an undisclosed sum as the aircraft lessor builds its balance sheet by investing in in-demand aircraft.

The aircraft, which will be leased back to the airline, have an aggregate full life current market appraised value of about $322 million, the Hong Kong-listed firm said in a filing to the stock exchange.

BOC Aviation, which operates a fleet of 494 aircraft, will fund the deal through cash on hand, loans and other borrowings. The deal is expected to be completed in April.

The deal came about a month after BOC Aviation bought two Boeing 747-8 freighter aircraft for an aggregate list price of $758.2 million.

Reporting by Donny Kwok; Editing by Richard Pullin

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