Thanks to Frank Wright SAGE (Southwest Airlines Golden Eagles)-Retired Pilots
DALLAS, Jan. 7, 2025 /PRNewswire/ – Southwest Airlines Co. (NYSE: LUV) and BBAM today announced the sale and leaseback of 36 Boeing 737-800 aircraft. The aircraft will be owned and leased to Southwest Airlines by Incline Aviation III, the third in BBAM’s flagship aviation investment fund series.
Steve Zissis, President and CEO of BBAM, said: “We are excited to partner with Southwest Airlines, one of the world’s most admired and awarded airlines, on this landmark sale-leaseback transaction. The transaction underscores BBAM’s commitment to delivering tailored fleet financing solutions and certainty of execution to our airline partners. We look forward to a long and successful relationship with Southwest Airlines.”
Tammy Romo, Executive Vice President and CFO of Southwest Airlines,said: “This transaction is part of our ‘Southwest. Even Better.’ transformational plan introduced in September at Investor Day. By opportunistically monetizing surplus value from a portion of our existing all-Boeing 737 fleet, Southwest is generating significant cash to drive fleet modernization and offset capital expenditures in support of our capital allocation strategy. We are very pleased to partner with BBAM, one of the world’s leading aircraft lessors, on this transaction.”
For further information regarding this transaction, please refer to the Southwest Airlines Form 8-K filed with the SEC today.