Overview

Bank of Communications provides a loan to Korean Air to finance one Airbus A380-800 aircraft

Commitment Year•2013Country of Activity•KoreaDirect Recipient Country of Incorporation•KoreaOverseas Jurisdiction•KoreaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2013

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

China Bank of Communications (BoCom or BoComm)

Receiving agencies

Private Sector

Korean Air Lines Co., Ltd. (KAL)

Loan description

Bank of Communications provides a loan to Korean Air to finance one Airbus A380-800 aircraft

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2013, the Seoul Branch of the Bank of Communications Co., Ltd. (BoComm) entered into a commercial loan agreement with Korean Air Lines Co., Ltd. (KAL) — the flag carrier airline of South Korea headquartered in Seoul and listed on the Korea Exchange — to finance one Airbus A380-800 aircraft.

Staff comments

1. It is unclear whether the loan supported the acquisition or refinancing of the aircraft.