Overview

BOC Aviation signs sale-and-leaseback agreement with Wizz Air for six Airbus A321neo aircraft

Commitment Year•2020Country of Activity•HungaryDirect Recipient Country of Incorporation•JerseyOverseas Jurisdiction•SingaporeSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 8, 2020

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

Wizz Air

Loan description

BOC Aviation signs sale-and-leaseback agreement with Wizz Air for six Airbus A321neo aircraft

Interest type•Unknown

Narrative

Full Description

Project narrative

On May 8, 2020, BOC Aviation, Bank of China's (BOC) wholly-owned aircraft leasing subsidiary, entered into a sale-and-leaseback agreement with Wizz Air for six Airbus A321neo aircraft powered by Pratt & Whitney GTF PW1100G-JM engines, delivered through 2020 and 2021. Other details about the agreement are currently unknown.

Staff comments

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