Wizz Air mandates ICBC Leasing for eight A320s financing

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

Central European budget carrier Wizz Air has expanded its operating lessor base with the mandate of new Airbus A320 deliveries to ICBC Financial Leasing.

The carrier entered into a pre-delivery payment financing and sale and leaseback agreement with ICBC Financial Leasing for eight A320 aircraft scheduled for delivery in 2013 and 2014.

The all-Airbus A320 operator approached financiers earlier this year with a request for proposals for sale and leaseback financings. It is due to receive eight units this year followed by 13 aircraft in 2014. Another 25 A320s will join the fleet in 2015, according to Flightglobal's Ascend Online database.

In December 2012, Wizz Air inked a sale and leaseback agreement with Mitsubishi Corporation Aviation Partners for three Airbus A320s, which will join the fleet this year and in 2014.

The carrier also signed sale and leaseback agreements on its 2012 deliveries with Avolon and Hong Kong Aviation Capital.

The deal represents the first transaction in the Central and Eastern European region for ICBC Financial Leasing.