A 2017-vintage Airbus A350-900 leased to Vietnam Airlines (VNA) has been refinanced via a Japanese operating lease (JOL).

The aircraft was originally delivered to VNA’s Hanoi base in November 2017 following a sale and leaseback transaction between VNA and Ping An Leasing.

Ping An sold the aircraft in February 2019 for approximately $155 million to AVIC Leasing, according to documents, and the JOL closed shortly after, in April last year.

The deal was arranged by DVB, KEB Hana and CCB’s Tokyo branch and the three entities were also the debt arrangers and lenders for the A350 transaction.

Clifford Chance provided counsel to the lenders.