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The move comes days after the last delivery of the Boeing 747.
The BCC has been credited with extending the reign of queen of the skies by several years after Volga-Dnepr stepped in to finance freight sales with hire deals when other financiers were reluctant to back the aging jets. Were.
Acting as a lender of last resort, BCC was a source of firepower in the global jet market, dating back to 1968 under McDonnell Douglas and working with the US EXIM Bank, which it saved in a Congressional dispute Fought a fight
According to market sources, BCC was ready to buy back the jets and lease them to airlines and this helped increase market support for the Boeing 737 Max. As the availability of capital for aviation has increased, with investors hunting for dollar-denominated yields, the BCC has been a vocal proponent of multiple forms of funding for airlines.
Industry veteran Myers told reporters in 2018, “The asset class is real. It’s not a niche anymore.”
A Boeing spokeswoman said the change would provide airlines with “more consistent support” for arranging aircraft financing. Boeing did not say whether any jobs would be affected.
Rob Martin, chief of finance for the commercial airline business, and David Whitehouse, Boeing’s treasurer, will be responsible for the transition, West said in the memo.