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Overview

BOC Aviation leases three Boeing 737-800 aircraft to Pegasus Airlines

Commitment Year•2015Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeyOverseas Jurisdiction•SingaporeSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2015
Start (actual)
Oct 28, 2015
End (planned)
Feb 1, 2016
End (actual)
Jan 22, 2016

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The purpose of the project was to lease three Boeing 737-800 aircraft to Pegasus Airlines, their headquarters are located in Istanbul, Turkey. More detailed locational information can be found at https://www.openstreetmap.org/way/503035820.

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

  • BOC Aviation Limited

Receiving agencies

Private Sector

  • Pegasus Airlines

Loan description

BOC Aviation leases three Boeing 737-800 aircraft to Pegasus Airlines

Interest type•Unknown

Narrative

Full Description

Project narrative

On October 28, 2015, BOC Aviation delivered the first Boeing 737-800 of three aircrafts to the Turkish airline, Pegasus Airlines. The specific date of the leasing is unknown, but the aircrafts are part of the company's "existing order book" (See Source: Press Release Announcement). Following the first delivery, BOC Aviation delivered the second aircraft on December 21, 2015, and the third on January 22, 2016. On July 11, 2016, BOC Aviation delivered a Boeing 737-800 aircraft per a separate lease (See Record ID#102943 for additional details).

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.