Vermillion Aviation sells A320.
Vermillion Aviation has agreed to sell an Airbus A320 to Dynam Aviation.
The aircraft will be delivered before 30 September 2019.
The market-appraised value of the aircraft is approximately $49 million, according to a Dynam Aviation filing to the Hong Kong Stock Exchange.
The filing adds that the transaction will be funded through cash on hand, the proceeds of loans by Dynam Aviation and cash generated from the company’s business operations.
Dynam Aviation Ireland is fully owned by Dynam Japan Holdings, a Hong Kong listed company and the leading pachinko slot machine operator in Japan.
Vermillion Aviation is a joint venture established between Cheung Kong, Li Ka Shing (Overseas) Foundation and MC Aviation Partners (MCAP). The equity split between the parties is 50% Cheung Kong, 10% Li Ka Shing Foundation and 40% MCAP.