Asian lessor sells narrowbodies | News | Airfinance Journal

Asian lessor sells narrowbodies

Hong Kong-based China Aircraft Leasing (CALC) is selling two Airbus narrowbody aircraft to special purpose vehicles of China Everbright’s CEB Leasing arm, subject to shareholder approvals.

The transaction covers an Airbus A320neo-family and an Airbus A320-family aircraft with current leases attached.

CALC said it received more than $102.4 million for the two aircraft assets but did not disclose the exact transaction value.

“The Consideration is above the net book value of the Aircraft. As an alternative to disclosing the Consideration for the Aircraft, the Company discloses the Market Appraised Value of the Aircraft. The Market Appraised Value of the Aircraft (obtained from an independent appraiser) is approximately US$102.4 million (equivalent to approximately HK$799 million). The Consideration is also no less than the Market Appraised Value of the Aircraft,” CALC noted.

CALC estimates the sale to be completed by 30 June.

China Everbright indirectly owns 37.11% of CALC.

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