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Overview

CDB Aviation leases three aircrafts to Bamboo Airways

Commitment Year•2018Country of Activity•Viet NamDirect Recipient Country of Incorporation•Viet NamSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Oct 29, 2018

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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Bamboo Airways Head Office. More detailed locational information can be found at https://www.openstreetmap.org/way/843817901

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

  • China Development Bank Aviation

Receiving agencies

Private Sector

  • Bamboo Airways Company Limited

Implementing agencies

Private Sector

  • Bamboo Airways Company Limited

Loan description

CDB Aviation leases three aircrafts to Bamboo Airways

Interest type•Unknown

Narrative

Full Description

Project narrative

On October 29, 2018, China Development Bank (CDB) Aviation signed a lease agreement providing three new A320-200NEO aircrafts to Bamboo Airways Company Limited (or Tre Việt Aviation Company Limited) for eight years. The value of this lease agreement and its terms are unknown. Bamboo Airways is a new "green" airline that began commercial operations in 2018. Bamboo Airways is wholly-owned subsidiary of Vietnamese conglomerate FLC Group JSC. CDB Aviation is a wholly-owned subsidiary of China Development Bank Financial Leasing Company Limited (CDB Leasing). The first A320NEO was officially delivered to Bamboo Airways in Toulouse, France, on November 4, 2019. The aircrafts have a two-class layout with eight business seats and 162 economy seats. It is unclear when/whether the remaining two aircrafts were handed over.

Staff comments

1. The Vietnamese name for Bamboo Airways Co., Ltd. is Công ty trách nhiệm hữu hạn Hàng không Tre Việt. 2. AidData treats this lease as a loan. 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).