Skip to content
AidData logo

Overview

BOC Aviation leases four Boeing 737-800 aircraft to Jet2 plc

Commitment Year•2023Country of Activity•United KingdomDirect Recipient Country of Incorporation•United KingdomOverseas Jurisdiction•SingaporeSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 19, 2023
Start (actual)
Nov 23, 2023
End (actual)
Feb 1, 2024

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

The purpose of this project was for BOC Aviation to leases four Boeing 737-800 aircraft to Jet2 plc. More detailed locational information can be found at: https://www.openstreetmap.org/relation/11519546

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

  • Jet2 plc (formerly Dart Group plc)

Loan desecription

BOC Aviation leases four Boeing 737-800 aircraft to Jet2 plc

Interest type•Unknown

Narrative

Full Description

Project narrative

On November 19, 2023, BOC Aviation Limited — a Chinese state-owned aircraft leasing company and wholly-owned subsidiary of Bank of China (BOC) — received a finance mandate from Jet2 plc — a British multinational airline company based in Leeds, England — to lease four two Boeing 737-800 aircraft to it on an operating lease. The two aircraft were 2015-vintage units previously leased to Sun Express and were delivered around November 23, 2023. The third and fourth aircraft were vintage units previously leased to Pegasus Airlines. The third was delivered sometime between November and February 2024. The final aircraft was delivered in early February 2024..

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.