Securities code: Bohai Leasing Co.Ltd(000415) securities abbreviation: Bohai Leasing Co.Ltd(000415) Announcement No.: 2022034 Bohai Leasing Co.Ltd(000415)
Announcement on the sale and leaseback business of 15 aircraft between the wholly-owned subsidiary of avolon Holdings Limited and interglobeaviation Limited
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions. 1、 Transaction overview
1. In order to seize the opportunity of aircraft sale and leaseback market, commit to long-term layout, stabilize the aircraft leasing market share in the Asia Pacific region and improve the competitiveness of Bohai Leasing Co.Ltd(000415) (hereinafter referred to as ” Bohai Leasing Co.Ltd(000415) ” or “the company”) in the global aircraft leasing market, Avolon Holdings Limited, the holding subsidiary of the company, signed relevant agreements with India indigo Airlines Limited (hereinafter referred to as “Indigo”) through its wholly-owned subsidiary avolon leasing Ireland 1 Limited (hereinafter referred to as “avolon Ireland 1”) on May 20, 2022 to transfer Indigo’s right to purchase 6 a320neo aircraft and 9 a321neo aircraft from Airbus, The market price of the above 15 aircraft is about US $828.8 million (equivalent to about RMB 52821082 million based on the exchange rate of US $to RMB 1:6.3732). The actual purchase price shall be determined by both parties through negotiation on this basis. Meanwhile, avolon Ireland 1 will lease the 15 aircraft to indigo after purchasing the aircraft. The above aircraft are expected to be delivered successively from July to November 2022. The lease term is 8 years. The rent level is reached on the basis of referring to the rent level of the same type of aircraft in the market in the same period. The rent will be calculated and collected after the aircraft is officially delivered and leased.
2. The company held the third interim board meeting of 2022 on May 20, 2022. The meeting considered and adopted the proposal on the sale and leaseback business of 15 aircraft between the wholly-owned subsidiary of avolon Holdings Limited and interglobe aviation limited by 9 votes in favor, 0 votes against and 0 abstentions.
3. This transaction does not constitute a connected transaction. According to the relevant provisions of the stock listing rules of Shenzhen Stock Exchange, it is not necessary to submit it to the general meeting of shareholders for deliberation. This transaction also does not constitute a major asset restructuring stipulated in the administrative measures for major asset restructuring of listed companies, does not constitute backdoor, and does not need to be approved by relevant departments.
2、 Basic information of the counterparty
1. Counterparty: interglobeaviation limited;
2. Registered address: upper ground floor, Thapar house, Gate No. 2, western wing, 124janpath, new delhi-110001, India;
3. Date of establishment: January 13, 2004;
4. Registered capital: INR 3852547290;
5. Enterprise type: joint stock limited company;
6. Main business: air transport services;
7. Major shareholders: Bhatia family and gangwal family hold 38% and 37% respectively.
3、 Basic information of transaction object
1. Name of subject matter: a320neo and a321neo aircraft;
2. Manufacturer: Airbus;
3. Category; Fixed assets;
4. Quantity: 6 a320neo aircraft and 9 a321neo aircraft.
4、 Main contents of the transaction agreement
On May 20, 2022, avolon Ireland 1 and indigo signed the agreement to assign right to take title, dry operating lease agreement and related ancillary agreements in Ireland. The main contents of the agreement are as follows:
1. Purchase price of aircraft: the market price of 15 aircraft is about US $828.8 million (equivalent to about RMB 52821082 million at the exchange rate of US $1:6.3732). The actual purchase price shall be determined by both parties through negotiation on this basis.
2. Lease method: operating lease;
3. Lease term: 8 years;
4. Ownership of leased equipment: avolon leasing Ireland 1 Limited.
5、 Purpose of this transaction and its impact on Listed Companies
Since 2021, avolon has actively seized the opportunity of aircraft sale and leaseback market and is committed to long-term layout. This transaction with indigo will help avolon stabilize the aircraft leasing market share in the Asia Pacific region and alleviate the short-term cash flow pressure of the airline company, so as to safeguard the long-term interests of the company and have a positive impact on the future operating results of the company.
6、 Documents for future reference
1. Bohai Leasing Co.Ltd(000415) the resolution of the third interim Board of directors in 2022;
2. Agreement to assign right to take title, dry operating lease agreement and related ancillary agreements.
Board of directors
