Overview

ICBC Leasing enters into a sale and leaseback agreement with AirAsia for four Airbus A320 aircraft

Commitment Year•2011Country of Activity•MalaysiaDirect Recipient Country of Incorporation•MalaysiaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2011

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

ICBC Financial Leasing Co., Ltd. (ICBCFL) (ICBC Leasing)

Receiving agencies

Private Sector

Capital A Berhad (AirAsia) (Formerly AirAsia Group Berhad)

Loan desecription

ICBC Leasing enters into a sale and leaseback agreement with AirAsia for four Airbus A320 aircraft

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2011, ICBC Financial Leasing Co., Ltd. (ICBC Leasing) entered into a sale-and-leaseback agreement with Capital A Berhad (AirAsia), a Malaysian low-cost airline, for four Airbus A320 aircraft. The terms of this agreement are unknown.

Staff comments

1. Sale and leaseback (or sale-leaseback) agreements are generally considered to be off-balance-sheet hybrid debt products.