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Overview

BOC Aviation leases two A320-200 aircraft to Air New Zealand

Commitment Year•2010Country of Activity•New ZealandDirect Recipient Country of Incorporation•New ZealandOverseas Jurisdiction•SingaporeSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 2, 2010
Start (planned)
Oct 1, 2011
Start (actual)
Nov 11, 2011
End (planned)
Dec 31, 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

  • BOC Aviation Limited

Receiving agencies

State-owned companies

  • Air New Zealand Limited

Loan description

BOC Aviation leases two A320-200 aircraft to Air New Zealand

Interest type•Unknown

Narrative

Full Description

Project narrative

On or around February 2, 2010, BOC Aviation Limited signed a long-term agreement with Air New Zealand Limited, the flag carrier airline of New Zealand, for two new Airbus A320-200 aircraft powered by by IAE2527-A5 SelectOne engines. The aircraft were scheduled for delivery in the fourth quarter of 2011. BOC Aviation delivered the first aircraft on or around November 11, 2011, with the second aircraft to be delivered in December 2011.

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.