Overview

CDB Aviation signs sale and leaseback agreement with Jazeera Airways for two Airbus A320neo aircraft

Commitment Year•2022Country of Activity•KuwaitDirect Recipient Country of Incorporation•KuwaitOverseas Jurisdiction•IrelandSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 14, 2022

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned companies

CDB Aviation Leasing

Receiving agencies

Private Sector

Jazeera Airways K.S.C.P.

Loan description

CDB Aviation signs sale and leaseback agreement with Jazeera Airways for two Airbus A320neo aircraft

Interest type•Unknown

Narrative

Full Description

Project narrative

On July 14, 2022, CDB Aviation signed a sale and leaseback agreement with Kuwaiti carrier Jazeera Airways for two Airbus A320neo aircraft. The two aircraft were to be configured with 174 economy class seats. The airline was expected to take delivery of the aircraft in September 2022. The financial value of the agreement is unknown.

Staff comments

1. Sale and leaseback (or sale-leaseback) agreements are generally considered to be off-balance-sheet hybrid debt products.