BOC Aviation is taking court action in the UK against Air Asia X and its affiliate AAX Leasing Two regarding missed lease payments and is also mounting a separate legal challenge, in conjunction with Wilmington Trust Corp against Spice Jet for the same reason.
BOCA’s action against the Malaysian LCC is almost $23 million related to missed payments on four aircraft leased to the airline by BOC Aviation, according to a Malaysian stock exchange filing.
BOC Aviation originally leased four Airbus A330-300s in 2014 to AirAsia X. The lease was revised in 2018.
BOC says that AAX Leasing Two had breached its obligations under the lease agreements. There were also breaches under the leases' respective guarantees, dated December 28, 2018.
“The board of AAX is currently reviewing the documentations received in respect of the said claim and will be seeking legal advice in relation to the said claim.
"The company will make the necessary announcements on further developments of the above matter as and when necessary,” AAX said.
Separately it is taking action in conjunction with Wilmington Trust Corp, a subsidiary of M&T Bank Corp, against Indian LCC SpiceJet. It is not clear at this stage the extent of the dispute with SpiceJet. BOCA has 7 planes leased to SpiceJet.