Overview

Bank of China contributes to a syndicated loan to Emirates Airline for the purchase of one Airbus A380-800 aircraft

Commitment Year•2015Country of Activity•United Arab EmiratesDirect Recipient Country of Incorporation•United Arab EmiratesSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 3, 2015

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

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 Commercial Banks

Bank of China (BOC)

Cofinancing agencies

Private Sector

Deutsche Bank AG

Receiving agencies

State-owned companies

Emirates Airline

Loan desecription

2015 syndicated loan from BoC and others to Emirates Airline for the purchase of one Airbus A380-800 aircraft in the UAE

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 3, 2015, financial close was reached on a deal in which a syndicate of two banks — the Bank of China (BOC) and Deutsche Bank — entered into a syndicated loan agreement with Emirates Airline — an Emirati airline owned by the Government of Dubai and one of the two flag carrier airlines of the United Arab Emirates — for the purchase of one Airbus A380-800 aircraft. This loan was secured (i.e. collateralized). BBAM LLC, an American aircraft lease company, was involved in the transaction.

Staff comments

1. It is possible that Emirates entered into a sale-and-leaseback for the Airbus A380-800 aircraft with BBAM, purchasing the aircraft with its own funds and then selling to BBAM. This issue merits further investigation.