Southwest Airlines announced the closure of the second tranche of a transaction with an unidentified lessor involving the sale and leaseback of 10 737-700s (ATWOnline, Dec. 24, 2008), under which it sold the remaining five for approximately $175 million and immediately leased them back for 16 years each. It will make monthly payments of $7.6 million for the first six months, with payments for subsequent semesters based on the six-month LIBOR rate. Separately, SWA said it will launch ...

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