Overview

BOC Aviation enters into sale-and-leaseback agreement with GOL for eight Boeing 737-800 aircraft

Commitment Year•2012Country of Activity•BrazilDirect Recipient Country of Incorporation•BrazilOverseas Jurisdiction•SingaporeSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 1, 2012

Start (actual): Jan 1, 2013

End (actual): Sep 30, 2014

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

BOC Aviation Limited

Receiving agencies

Private Sector

GOL Linhas Aéreas Inteligentes S.A. (GOL)

Loan description

BOC Aviation enters into sale-and-leaseback agreement with GOL for eight Boeing 737-800 aircraft

Interest type•Unknown

Narrative

Full Description

Project narrative

In November 2012, BOC Aviation a purchase-and-leaseback agreement with GOL Linhas Aéreas Inteligentes S.A. (GOL), for eight new Boeing 737-800 aircraft. The aircraft were scheduled to be delivered from the first quarter of 2013 to the third quarter of 2014.

Staff comments

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