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Airlines

Name: BOULLIOUN AVIATION SERVICES
7JetSet7 Code: BOU
Status: Currently Not Operational
Region: NORTH AMERICA
City: BELLEVUE
Country: USA
Employees 62
Web: boullioun.com
Email: info@boullioun.com
Telephone: +1 (425) 454-3106
Fax: +1 (425) 454-1913
Sita:
Background
(definitions)

Click below for data links:
BOU-LSG04
BOU-LSG04A
BOU-LSG04B
BOU-LSG04C
BOU-LSG04D
BOU-NEWSJUL04

FORMED IN 1988. NEW & USED, JET AIRPLANE LEASING COMPANY, BASED IN BELLEVUE, WASHINGTON.

APRIL 1998: OWNED BY "TEX" BOULLIOUN, FORMER BOEING "CRACK" SALESMAN EXECUTIVE VP.

PORTFOLIO INCLUDES 19 737-300'S, 11 737-400'S, AND 1 757-200 WORTH $1B.

June 2003: 62 employees.

(http://www.boullioun.com). (info@boullioun.com).

(Telephone: +1 (425) 454-3106). (FAX: +1 (425) 454-1913).

32/30 ORDERS 737-NG (/01) FOR $2.6B.

OCTOBER 1998: OWNER SUMITOMO TRUST & BANKING SELLS OUT TO DEUTSCHE BANK FOR $120M.

DECEMBER 1998: 3 ORDERS (7/99) 737-300'S, FOR TOTAL 63 BOEING & 96 AIRPLANES TOTAL, INCLUDING 35.5% STAKE IN SINGAPORE AIRCRAFT LEASING ENTERPRISE (SALE).

JANUARY 1999: $1.3B, 15 ORDERS (2/02) A319'S; 15 ORDERS (2/02) A320'S.

JUNE 1999: PARIS AIR SHOW - (V2500) ENGINES FOR 15 ORDERS A320'S ($180M). BUYS 737-400 (25063) FROM ICELANDAIR (ICE) & LEASED IT BACK TO (ICE).

JULY 1999: BUYS 2 A319'S (V2500) (976; 1010) FROM TAM BRAZIL (TPR) AND LEASES BACK FOR 5 YEARS.

AUGUST 1999: BUYS 5 737-300'S (23776; 23777; 23778; 23779; 23780) & 1 757-200 (RB211-535E4) (24522) FROM AMERICA WEST (AMW) AND LEASES BACK FOR 66 MONTHS.

FEBRUARY 2000: ABBEY NATIONAL, UK, PLANS TO ACQUIRE BOULLIOUN (BOU) FROM DEUTSCH BANK.

MARCH 2000: CONTRACT TO HONEYWELL TO PROVIDE AVIONICS SUITE FOR 60 737NG'S.

MAY 2000: PARENT, DEUTSCH BANK PUTS BOULLIOUN (BOU) UP FOR SALE, AS WORLD'S 3RD LARGEST AIRPLANE LESSOR, AND ONE OF 2 BIDDERS IS DAIMLERCHRYSLER SUBSIDIARY DEBIS AIR FINANCE (DEA).

DECEMBER 2000: WESTLB, GERMANY, ACQUIRES BOULLIOUN (BOU).

JANUARY 2001: ACQUISITION BY WESTDEUTSCHE LANDESBANK GIROZENTRALE (WESTLB), DUSSELDORF/MUNSTER, FINALIZED AFTER REGULATORY APPROVAL.

APRIL 2001: MULTI-YEAR LEASE 1 737-400 TO CZECH AIRLINES (CSA).

November 2002: Completes more than $2B worth of refinancing of its current portfolio of airplanes, allowing consideration of ordering more airplanes in 2003. May broaden out from its fleet of narrowbody PAX airplanes to include freighters. Has 85 airplanes in its fleet, all narrowbody jets apart from 3 767's. It still has to take delivery of 26 of 30 A320's ordered, and 12 of 30 737NG's to be completed by 2006.

January 2003: In 2002, placed 27 narrowbody airplanes with 15 airlines. 9 were new customers, including EasyJet (EZY), Hainan Airlines (HNA), and Dragonair (DRG). Took delivery of 11 737's and 4 A320 family jets, to expand its portfolio to 85 owned or managed airplanes worth $2.5B. Boullioun (BOU) also raised $1.1B from a syndicate of 18 banks and completed an additional $950M financing.

May 2003: 2 737-700's medium-term lease to Air Berlin (BER).

September 2003: Boullioun (BOU) was selected by Abbey National plc to manage/sell its lease portfolio of 30 airplanes with a value of $950M: 13 737's; 1 747; 3 757's; 1 777, 3 MD-82's; 1 A319; & 8 A320's. Abbey National acquired airplanes via 2001 purchase of IEM Finance.

December 2003: Westdeutsche Landesbank Girozentrale (WestLB) controlled by the German state of North Rhine-Westphalia, has set aside in its 2003 balance sheet # EUR 416M/$516M for depreciation linked to its wholly owned airplane leasing subsidiary, Boullioun Aviation Services (BOU), due to the weakness in airplane values and leasing business over the past year. (BOU) has a portfolio of >80 airplanes through offices in Seattle, London, and Singapore. Is also founding shareholder of SALE (SIL).

February 2004: See attached link to Leasing Survey 2004. Shows Boullioun (BOU) ranked 7th of top 40 airplane leasing companies with 121 narrowbodies and 5 widebodies.

July 2004: WestLB assumes 35.5% stake in S A L E (SIL) from its Boullioun Aviation Service Unit (BOU). Singapore Airlines (SIA) (35.5%) and Singapore government agencies (29%) own the remainder.

(SIL) has a portfoloio of 60 airplanes plus 16 A320's on order.

WestLB is seeking to sell (BOU), who has a portfolio of 127 airplanes: include 82 737's; 1 747-400; 5 757's; 3 767's; 3 MD-82's; 18 orders A319/A320's; 33 A320 family airplanes.

April 2005: Aviation Capital Group (CGP) pays >$2.5B for Boullioun Aviation (BOU).

Dubai Aerospace Enterprise named former Boullioun Aviation Services (BOU) President & CEO, Robert Genise, CEO of its DAE Capital business. Genise left Boullioun following its sale to Aviation Capital Group (CGP) in 2005. He will report to DAE Chief Executive, Bob Johnson. DAE Capital is one of six divisions of DAE; the others are DAE Airports, DAE Manufacturing, DAE University, DAE Engineering and DAE Services.

See (GCP).

Fleet:
(definitions)

April 2005:

22 737-300, LSD OUT.

5 737-300 (23776; 23777; 23778; 23779; 23780), LST (AMW) 66 MTHS 1999-08.

10 737-400, LSD OUT, 1 LST (CSA) 2001-04.

13 737-700, LSD OUT. 2 LST (BER) 2003-05.

11 +2 ORDERS 737-800 LSD OUT.

6 +30 OPTIONS 737-NG.

1 757-200, LSD OUT.

1 757-200 (RB211-535E4) (24522), LST 66 MTHS (AMW) 1999-08.

1 767-300.

2 A319 (V2500) (976; 1010), 5 YR LST (TPR) 1999-07.

15 ORDERS A319 (V2500).

15 ORDERS A320 (V2500).

2 A320.

Management:
(definitions)

TEX BOULLIOUN, CHAIRMAN.

JOHN WILLINGHAM, CHIEF OPERATIONS OFFICER (COO).

ARTHUR SCHMIDT, SENIOR VP TECHNICAL SERVICES.

GREG NEIMAN, VP ASSET MANAGEMENT TECHNICAL SERVICES,
(gneiman@boullioun.com).

MIKE MILLSPAUGH, VP TECHNICAL SERVICES, EX-(ILF).

KEITH OELRICH, ASSISTANT VP TECHNICAL SERVICES.

 
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