Wizz Air PDP and sale leaseback with ICBC Leasing

Victoria
By Victoria April 19, 2013 13:59

Wizz Air PDP and sale leaseback with ICBC Leasing

Wizz Air, the largest low-cost airline in Central and Eastern Europe, has entered into a pre-delivery payment financing and sale and leaseback agreement with ICBC Financial Leasing Co., Ltd. (ICBC Leasing) for eight new Airbus A320 aircraft. The airplanes are planned for deliveries in 2013 and 2014 and at list price would be valued at over US$ 700,000,000.
József Váradi, Chief Executive Officer of Wizz Air, said: “We are pleased to expand our existing group of leasing companies and to announce our first financing deal with ICBC Leasing, the biggest ever between Hungary and China. I look forward to expanding this new partnership in the future. The addition of these eight new aircraft will contribute to the growth capacity of the airline and maintain the average age of our fleet – just under 4 years -, one of the youngest of all European airlines. We would like to thank ICBC Leasing for their support and confidence in Wizz Air.”
Péter Szijjártó, State Secretary for Foreign Affairs and External Economic Relations of Hungary, said: “The expansion of the Wizz Air fleet coincides with the foreign policy and trade objectives of Hungary. The interest of the Hungarian Government is to see to it that as many businessmen and tourists as possible come to Hungary, using the most direct means and the best services available.”
Cong Lin, Chief Executive Officer of ICBC Financial Leasing Co., Ltd. added: “We are delighted to announce this transaction with Wizz Air and are looking forward to develop a long lasting relationship. This is our first transaction in the Central and Eastern European region and we are glad to enter into this region with such a successful lessee as Wizz Air. ICBC Leasing looks forward to expanding in this promising region and working closely with Wizz Air.”

Victoria
By Victoria April 19, 2013 13:59
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