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Overview

BOC Aviation leases one Boeing 737-800 aircraft to Skymark Airlines

Commitment Year•2007Country of Activity•JapanDirect Recipient Country of Incorporation•JapanOverseas Jurisdiction•SingaporeSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 6, 2007
Start (planned)
Dec 31, 2009
Start (actual)
Nov 17, 2009
End (planned)
Dec 31, 2009
End (actual)
Nov 17, 2009

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

  • Skymark Airlines Inc.

Loan description

BOC Aviation leases one Boeing 737-800 aircraft to Skymark Airlines

Interest type•Unknown

Narrative

Full Description

Project narrative

In or around December 6, 2007, BOC Aviation signed a lease agreement with Skymark Airlines Inc., a Japanese low-cost airline, for one new Boeing 737-800 aircraft. The aircraft was scheduled to be delivered in 2009. The aircraft was delivered on or around November 17, 2009.

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.