Overview

BOC Aviation signs sale-and-leaseback agreement with Etihad Airways

Commitment Year•2012Country of Activity•United Arab EmiratesDirect Recipient Country of Incorporation•United Arab EmiratesOverseas Jurisdiction•SingaporeSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 21, 2012

Start (planned): Apr 1, 2014

End (planned): Jun 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

State-owned companies

Etihad Airways

Loan description

BOC Aviation signs sale-and-leaseback agreement with Etihad Airways

Interest type•Unknown

Narrative

Full Description

Project narrative

On November 21, 2012, BOC Aviation, Bank of China's (BOC) wholly-owned aircraft leasing subsidiary, signed a sale-and-leaseback agreement with Etihad Airways, one of the UAE's two national air service providers, for two A321-200 aircraft equipped with IAE V2533-A5 SelectOne engines. The two aircraft were scheduled to be delivered in the second quarter of 2014.

Staff comments

1. The price of the lease is currently unknown. 2. Sale and leaseback (or sale-leaseback) agreements are generally considered to be off-balance-sheet hybrid debt products.