November 17, 2017 / 1:14 AM / a year ago

CDB Financial Leasing looks to buy 14 aircraft for £1.15 billion

HONG KONG (Reuters) - China Development Bank Financial Leasing Co Ltd (1606.HK) said it looked to buy a total of 14 new Airbus A320neo aircraft from Go Airlines (India) Ltd for an aggregate list price of $1.52 billion (£1.15 billion), and lease each aircraft back to the airline upon delivery.

The aircraft and commercial vehicle lessor has agreed to buy five aircraft, for delivery by end of 2017, for an aggregate list price of $542 million, and intends to buy another nine aircraft for $975.6 million, the Hong Kong-listed firm said in a filing late on Thursday.

The deal, which will be funded through cash on hand, loans and borrowings, will enable the company to build its balance sheet by investing in modern, efficient, and in-demand aircraft, it added.

Reporting by Donny Kwok; Editing by Biju Dwarakanath

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