Air China set for more bond refinancings

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Air China has told bankers and financial institutions that it does not need external financing for this year's first half deliveries.

The carrier plans to use its own cash resources and will refinance the aircraft with bonds, according to a financier.

According to Flightglobal's Ascend online database, Air China has three Airbus A320s deliveries scheduled in the first half of this year in January, March and May. Two A321s will join in February and May while two A330-200 deliveries are scheduled in February and April.

Air China will receive six Boeing 737-800s in the first six months of 2013 as well as two 777-300ERs in May and one 777-300ER in June.

Air China has also agreed a number of sale and leaseback transactions on its upcoming Airbus A330 pipeline.

An A330-200 delivery scheduled for February is due to be acquired by Bocom Leasing while another aircraft of the type, due in March, will be acquired by ICBC Leasing under a 12-year sale and leaseback transaction.

ICBC Leasing is also expected to acquire an A330-300 (MSN 1383) later this month as well as another A330-300, due in May under similar sale and leaseback transactions.