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Overview

BoCom Leasing leases one Airbus A320 aircraft to Vueling Airlines

Commitment Year•2018Country of Activity•SpainDirect Recipient Country of Incorporation•SpainSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Apr 10, 2018
Start (actual)
Apr 10, 2018
End (actual)
Apr 10, 2018

Stakeholders

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

Funding agencies

State-owned Commercial Banks

  • China Bank of Communications Financial Leasing Co., Ltd. (BoCom Leasing)

Receiving agencies

Private Sector

  • Vueling Airlines, S.A.

Loan description

BoCom Leasing leases one Airbus A320 aircraft to Vueling Airlines

Interest type•Unknown

Narrative

Full Description

Project narrative

Prior to April 10, 2018, Bank of Communications Financial Leasing Co., Ltd. (BoCom Leasing) — a Chinese state-owned leasing company — entered an operating lease agreement with Vueling Airlines, S.A. — a Spanish low-cost airline based in Barcelona and subsidiary of International Consolidated Airlines Group S.A., popularly known as International Airlines Group (IAG), a British-Spanish multinational airline holding company incorporated in Spain, headquartered in London, the United Kingdom, and listed on the London Stock Exchange and the Madrid Stock Exchange — for one Airbus A320 aircraft. This aircraft was MSN 4291 and had previously been leased to Air Berlin (captured via Record ID#102220). BoCom Leasing delivered this aircraft on April 10, 2018, where it was registered as EC-MVO.

Staff comments

1. A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. Under a capital lease (a financial arrangement where the lessee/borrower uses an asset and pays regular installments plus interest to the lender/lessor), rental payments are usually classified as interest and obligation payments, similarly to a mortgage (with the interest calculated each rental period on the outstanding obligation balance). AidData codes capital leases as loans. 2. The specific commitment date of this lease agreement is unknown. For the time being, AidData has coded the delivery date as the commitment date and marked the commitment_date_estimated? field as True.