Avolon received US Export Import Bank (Ex-Im) approval yesterday for the financing of four Boeing aircraft being delivered to Japan Airlines and China Eastern Airlines, according to a source close to the situation.
The financing covers three Boeing 737-800s being delivered to Japan Airlines in 2012 through sale and leasebacks (SLB) with Avolon; the first of which will be arriving in July.
China Eastern Airlines will be receiving the fourth aircraft, also a 737-800, being delivered later this year, the source says.
Meanwhile, Avolon has secured Export Credit Guarantee Department (ECGD) and Euler Hermes funding for seven Airbus aircraft also due to deliver in 2012, the source says.
Six of these aircraft are A320s; two of which will be delivered to Brazilian airline TAM, two to Indian low-cost carrier IndiGo and the final two to Hungarian airline Wizz Air. The seventh aircraft is an A330-200, destined to reach Colombian carrier Avianca in December