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Saturday 16.12.2017 | Name days: Alvīne

Wizz Air signs the first leasing agreement with Chinese CCB Financial Leasing

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe largest low-cost airline in Central and Eastern Europe – Wizz Air – has announced the signing the first lease agreement with CCB Financial Leasing for 11 Airbus A321ceo1 aircraft. This will be Wizz Air’s largest lease agreement yet.

The aircraft are scheduled to be supplied to Wizz Air in 2016-2017.

«We are very excited to begin a relationship with CCB Financial Leasing, and to start the relationship with our largest leasing agreement in Wizz history,» – said József Váradi, Wizz Air Chief Executive Officer. «The agreement also continues an even larger relationship between Wizz Air and the Chinese financial community,» – he added.

«We are very pleased to have Wizz Air as our important customer and sign this significant transaction with them. As part of the internationalization strategy of China Construction Bank, CCB Financial Leasing will continue to expand its presence in global aviation leasing market through its Irish platform,» – said Wang Qiang, President of CCB Financial Leasing.

This agreement follows the ariline’s business model of sale/leaseback, where the company negotiates and contracts directly with Airbus for new aircraft then executes a sale/leaseback agreement with a lessor.

«We always evaluate the best method at the time to finance our new aircraft and for the time being, sale/leaseback works best for us and our shareholders. One big reason is it allows us to maintain the youngest fleet in Europe and that benefits the customer in a number of ways,» – Váradi said.

Wizz Air began adding larger-cabin Airbus A321ceo aircraft to its A320ceo fleet this month, with the first new aircraft beginning service 20 November. In addition to the newly delivered A321, Wizz Air has 26 additional A321ceo aircraft set for delivery through 2018, 11 now financed by CCB.

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