Jetstar Hong Kong sells three A320s to CMB Financial Leasing

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By TESTCustomwebLP TESTCustomwebLP March 23, 2015 19:49

Jetstar Hong Kong sells three A320s to CMB Financial Leasing

Jetstar Hong Kong, a subsidiary of Shun Tak Holdings, sold two unused Airbus A320-232 aircraft to Oriental Leasing 5 Company, an affiliate of CMB Financial Leasing, on March 20, 2015 for US$83million.

CMB Financial Leasing has paid an initial deposit of US$250,000 per aircraft to Jetstar Hong Kong prior to the date of the relevant Aircraft Sale Agreement. It will pay a subsequent deposit of US$1.25 million per aircraft to Jetstar Hong Kong within five business days after the date of the relevant Aircraft Sale Agreement; and the remaining balance of the consideration for each aircraft is due on delivery.

In a stock exchange filing, Shun Tak stated that the aircraft are being sold because the establishment of Jetstar Hong Kong is “taking longer than initially expected” and that the sale of the aircraft “will optimize the fleet plan in the short term”. The proceeds from the sale will be used for repayment of debt and for general working capital purposes of Jetstar Hong Kong.

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By TESTCustomwebLP TESTCustomwebLP March 23, 2015 19:49