Deutsche Bank has found a buyer for Boullioun Aviation Services, its aircraft leasing company, in the shape of fellow German financial institution Westdeutsche Landesbank Gironzentrale (WestLB). The sale price was not disclosed.
Flight International revealed Deutsche Bank's intention to offload Boullioun - one of the world's largest aircraft lessors in May 1999. Deutsche Bank acquired the lessor from Sumitomo Trust and Banking only two years ago.
The sale to WestLB is expected to be finalised within three months, subject to regulatory approvals. Boullioun was founded in 1986 by former Boeing president EH "Tex" Boullioun. It owns a 35.5% stake in Singapore Aircraft Leasing Enterprise, a joint venture with Singapore Airlines.
Source: Flight International
