United Airlines (UAL.O) will sell and lease back 22 planes to Bank of China (BOC) Aviation, a statement from the aircraft investor released to the Hong Kong Stock Exchange said on Sunday.
The deal involves six Boeing 787-9 aircraft and 16 Boeing 737-9 MAX aircraft from United Airlines, the statement said.
The Singapore-based BOC Aviation did not reveal how much the purchase was worth but said the planes would be leased back to United on long-term agreements.
United said on Wednesday it had reduced its flight schedule in May by 90% and expects similar cuts for June as a result of the coronavirus pandemic.
The U.S. airline also said it flew less than 200,000 people in the first two weeks of April, a 97% drop from the more than 6 million people it flew during the same time in 2019.
Source:reuters