Overview

ICBC provides a loan to KLM for the financing of the acquisition of aircraft

Commitment Year•2012Country of Activity•NetherlandsDirect Recipient Country of Incorporation•NetherlandsSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2012

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

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

Koninklijke Luchtvaart Maatschappij N.V. (KLM Royal Dutch Airlines)

Loan description

ICBC provides a loan to KLM for the financing of the acquisition of aircraft

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2012, the Industrial and Commercial Bank of China (ICBC) entered into a bilateral loan agreement with Koninklijke Luchtvaart Maatschappij N.V. (KLM Royal Dutch Airlines) — the Netherlands-incorporated flag carrier airline of the Netherland, headquartered in Amstelveen, with its hub at nearby Amsterdam Airport Schiphol majority-owned by Air France-KLM S.A. (99% stake), a France-incorporated Franco-Dutch airline holding company with its headquarters in the rue du Cirque, Paris that, at the time, had the Government of France as its single largest shareholder (15.9% stake) — to finance the acquisition of aircraft.