ICBC funds A320 for HKAC

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Industrial and Commercial Bank of China (ICBC) provided a commercial loan facility covering an Airbus A320 aircraft for Hong Kong Aviation Capital (HKAC), according to a source.

The aircraft (MSN 5411) was acquired last week by the operating lessor from Indian low-cost carrier IndiGo under a sale and leaseback transaction.

This is the third aircraft closed by HKAC this year with IndiGo. The operating lessor now has 13 A320s on lease to the low-cost carrier.