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Overview

ICBC Leasing leases two Airbus A320 aircraft to AirAsia

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 description

ICBC Leasing leases two Airbus A320 aircraft to AirAsia

Interest type•Unknown

Narrative

Full Description

Project narrative

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

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.