Leaseplan, the operational leasing firm with 2.3m-euro turnover in 2008, expects the number of companies resorting to the sale and lease back system to rise this year because of the need of companies to bolster their liquidities. "The number of firms resorting to solutions such as sale and lease back (through which a company sells its car fleet to a leasing firm and then rents it back i.e.) has soared lately as firms want to boost their liquidities," said Bogdan Apahidean, managing director with Leaseplan. Apahidean explained that as a rule these fleets were made up of cars used by firms' employees. In the case of Leaseplan, around 5% of the 100 customers resorted to this service in 2009, from none in 2008. The sale and lease back solution is embraced in real estate, too, with businessman Radu Enache, who controls Continental hotel chain with 27m-euro turnover, having signed such a contract for the two-star Hello hotel of Bucharest, as well as for the Ibis hotel in Constanta last summer.
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