BOC Aviation, extending its campaign of sale-and-leaseback deals, has bought four Boeing 777s from Air France and leased them back to the airline. The agreement, for two 777-200LR freighters and two 777-300ER airliners, is the latest in a string of such financing contracts that the lessor, a subsidiary of Bank of China, began signing in December. In announcing the deal, Air France Senior VP Pierre Vellay says the carrier “like many airlines, is feeling the impact of the global economic slowdown.”

The Royal Australian Navy will become heavily oriented toward underwater combat under a new policy that proposes doubling the fleet’s submarine arm. A historic realignment and expansion of naval force is outlined in the country’s latest defense white paper (Aerospace DAILY, May 4), which also endorses a purchase of about 100 Lockheed Martin F-35 Lightnings, giving the Royal Australian Air Force close to one-for-one replacement of its current combat jet arsenal. The program will begin with an order for at least 72.

China’s new national helicopter champion, Avicopter, will take an increasingly demanding approach to international cooperative projects as it seeks to build an independent brand rivaling the likes of Eurocopter and Sikorsky. Future joint helicopters will have to fit into Avicopter’s own emerging product lineup, says President Wang Bin. And his company’s own technological development path will dominate its approach to business, with foreign cooperation playing only a supporting role.