newstodate.aero
JUN 25, 2003 (newstodate): In order to ease its financial burdens, China Airlines has completed a 10 year sale and lease-back arrangement for its new Airbus A340-300 aircraft, the first of which will arrive in July.
The deal was done through Chailease Finance, an affiliate of China Trust Group in Taiwan, with the amount of NT$ 5.9 billion. Jointly financed by Hua Nan Commercial Bank, Land Bank of Taiwan, Farmers Bank of China and Taiwan Business Bank, the interest rate was fixed at around 2 percent.
The new aircraft will be used on the twice-weekly Taipei-Honolulu service, and on the Frankfurt service which will be increased to four weekly flights.
The deal was done through Chailease Finance, an affiliate of China Trust Group in Taiwan, with the amount of NT$ 5.9 billion. Jointly financed by Hua Nan Commercial Bank, Land Bank of Taiwan, Farmers Bank of China and Taiwan Business Bank, the interest rate was fixed at around 2 percent.
The new aircraft will be used on the twice-weekly Taipei-Honolulu service, and on the Frankfurt service which will be increased to four weekly flights.