Posted on: 14 February 2011 by Ross McSweeny
Wizz Air and Hong Kong Aviation Capital (HKAC) have announced the closing of a sale and leaseback transaction for two new Airbus A320s to be delivered in March 2011 and the closing of a pre-delivery financing and sale and leaseback transaction for two more of the type to be delivered in 1st quarter of 2012.
The aircraft are included in the purchase contracts between Wizz Air and Airbus for up to 107 A320 family aircraft. The aircraft will come with a single class configuration of 180 seats.
Under the terms of the transaction, HKAC will take ownership of the aircraft upon delivery from Airbus and Wizz Air will then lease them back from HKAC for an 11-year lease term. The deal allows Wizz Air to continue financing its growth. It also allows HKAC to capitalise on the advantages of the long-standing co-operation between Wizz Air and Airbus.