SGI Aviation and Philippine Airlines extend leases for two 777-300ERs
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Background ✨
SGI Aviation previously delivered two Boeing 777-300ERs to Philippine Airlines on long term lease on behalf of “an American client”, with the aircraft having been previously operated by Garuda Indonesia1. Other 777-300ER assets on lease to Philippine Airlines also changed hands, including two aircraft sold by Azorra Aviation to FPG Amentum2 and a 777-300ER sale agreement by Avation that was expected to generate a material profit and release around USD33 million in net cash proceeds3.