Wizz Air finalizes financing deals for 10 aircraft

Wizz Air
Wizz Air

Wizz Air announced today that it had concluded a sale and lease back deal with Bank of Communications and Financial Leasing Co., Ltd (‘BoComm’) as well as have finalizing an earlier announced operating lease deal with BOC Aviation Limited (‘BOC Aviation’) for the financing of a total of ten new aircraft.

The airplanes are planned for deliveries in 2017 and 2018 and at today’s list price would be valued at US$ 1.1 billion.

BoComm and Wizz Air have entered into an eight aircraft sale and lease back agreement. This covers two A320-200 and six A321-200 aircraft. The lease terms are nine years. The planes will be delivered between September 2017 and June 2018 and represent US$ 885.4 million value at today’s list price.

BOC Aviation and Wizz Air signed today and earlier announced a deal including one new Airbus A321-200 and one new A320-200 aircraft, adding the largest low-cost airline in Central and Eastern Europe as a new customer for the Company. The aircraft will be delivered in January and June 2017 respectively.

Speaking at the Signing Ceremony in Beijing today, József Váradi, Chief Execituve Officer of Wizz Air, said:

“Wizz Air has a history and strategic interest in the Chinese financing market and we are determined to keep the close cooperation in the future as well. With today’s announcement Wizz Air secures its fleet requirements until 2018 when Wizz’s fleet will reach a significant and important milestone of 100 aircraft, while increasing the capacity by more than 30% and reinforcing Wizz’s position as the leading low cost carrier in Central and Eastern Europe. As Hungary’s de facto national airline we are very pleased with today’s development that reinforces our goal to stay the most efficient, most productive and financially one of the best-performing airlines in Europe.”

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