Tianjin Bohai Leasing has agreed to lease two Boeing 737-700s to fellow HNA Group subsidiary Lucky Air.

On September 7, Lucky Air signed an agreement with Nansha Bohai 4, a wholly-owned subsidiary of Bohai Capital, to transfer its two 737 aircraft deal which was inked with Boeing previously; meanwhile, the two sides signed a lease agreement on the two 737 aircraft, Bohai Capital said in a stock exchange notice.

The two aircraft are being leased for 12 years at a quarterly rental of US$1.35 million.

Lucky Air operates a fleet of 12 737-700s, 11 737-800s, five Airbus A320s and three A319s.