Boullioun Aviation Services has become one of the world's biggest leasing companies after placing orders for 30 Airbus A319s and A320s in a deal worth more than $1.3 billion.

The order was completed last October, but only became effective on 23 December when the final details of the leasing company's sale to Deutsche Bank were concluded. The bank bought the lessor for $120 million from Sumitomo Trust & Banking of Tokyo.

The A320 family order is Airbus' first firm contract with Boullioun, although its affiliate, Singapore Aircraft Leasing Enterprise (SALE), has eight Airbuses in its inventory and a further 20 A320 family aircraft on order.

The Boullioun deal covers the delivery of 15 A319s and 15 A320s, although "we have a lot of flexibility about that", says company president and chief executive Robert Genise, and it could be extended to include the A321. Deliveries will take place between February 2002 and November 2006.

Genise says no new major fleet purchases are planned for the immediate future. "For the time being, this satisfies our plan." He says Boullioun does not plan to follow the lead given by International Lease Finance, Bavaria Flug and Pembroke Capital in considering aircraft in the 717/A318 class, saying: "We're not yet convinced this is a market for us."

Overall, Boullioun has 47 aircraft in service and 64 on order. It has also announced new deals to place four secondhand 737s, including three -400s and a -300. Three 737-400s coming off lease from China Airlines have found new homes with Virgin Express (which traded up from a -300), the Republic of China air force in Taiwan, and Pro Air of Seattle.

Source: Flight International