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Air China gets European ECA financing
12 August 2010
European export credit agencies guarantee the financing of an Airbus A321 for Air China in a first-ever deal.
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Air China
Airbus A321-200
COFACE
Exports Credits Guarantee Department (ECGD)
Hermes
HSBC
Air China took delivery of an Airbus A321-200 guaranteed by European export credit agencies: Coface in France, Exports Credits Guarantee Department (ECGD) in the UK and Hermes in Germany.
HSBC and Bank of Tokyo-Mitsubishi UFJ (BTMU) arranged the financing which closed on July 26.
A source familiar with the deal says the transaction is a breakthrough as it marks the first time a Chinese Airline was able to finance an aircraft supported by major export credit agencies without a guarantee...
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