Hong Kong Aviation Capital leases three Airbus 320 to IndiGo airlines

Hong Kong Aviation Capital (HKAC), an investor in global aviation finance, recently announced new leases of three new Airbus 320 aircraft to IndiGo Airlines of India. The leases will start on delivery of the aircraft from Airbus to IndiGo in 2011. HKAC also agreed to extend the leases of four existing A320 aircraft to IndiGo.
The three new A320s will be delivered at manufacturer list prices totaling approximately $200m, and will be on lease to the airline for a period of six years. HKAC is closing the purchase of the new aircraft with support from significant Chinese banking and financial institutions. Upon delivery of the new aircraft, HKAC will have a total of ten A320s on lease to IndiGo. The transaction expands its existing 68 aircraft portfolio with assets totalling approximately $3bn.
HKAC acquired the Allco aviation portfolio in January 2010 and since then has brought on key senior hires, and adopted a new business plan, to leverage its significant capital position by providing liquidity to operators. It says its target is to hit the big time as a top five operating lessor.
25/08/10 Paul Walsh/Asset Finance Europe

To Read the News in full at Source, Click the Headline

Categories: Foreign Aug 2010, Indigo Airlines Aug 2010