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Overview

BOC Aviation leases eight new Airbus A320 aircraft to Qantas Airways

Commitment Year•2008Country of Activity•AustraliaDirect Recipient Country of Incorporation•AustraliaOverseas Jurisdiction•SingaporeSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Feb 1, 2008
Start (planned)
Jul 1, 2010
End (planned)
Mar 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

Private Sector

  • Qantas Airways Limited

Implementing agencies

Private Sector

  • Airbus SE (formerly European Aeronautic Defence and Space Company N.V., Airbus Group NV, and Airbus Group SE)

Loan description

BOC Aviation leases eight new Airbus A320 aircraft to Qantas Airways

Interest type•Unknown

Narrative

Full Description

Project narrative

In February 2008, BOC Aviation Limited signed lease agreements with Qantas Airways Limited — Australia's flag carrier airline — for eight new Airbus A320 aircraft. The aircraft were to be delivered by Airbus between the third quarter of 2010 and the first quarter of 2011 and would be operated by Australia's low-cost subsidiary airline Jetstar Airways Pty Ltd. By December 31, 2011, all aircraft had been delivered.

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.