According to the Zhitong Finance App, Century City International (00355), Pelipo Holdings (00617), and REGAL INT'L (00078) jointly announced that on February 28, 2024, Navigation Force Limited (seller), a wholly-owned subsidiary of Regal, had signed a letter of intent with the potential buyer relating to the possible sale of two A320-232 Airbus aircraft in accordance with the terms set forth in the letter of intent (“potential sale”).
According to the letter of intent, the seller and the potential buyer will use reasonable commercial efforts to reach and sign a sales agreement relating to the potential sale within 30 days of the date of the letter of intent, and complete the sale of the aircraft on or around April 30, 2024 or such other date as may be agreed in writing between the seller and the potential buyer.
The total cost of the aircraft under the letter of intent was $44.5 million, subject to a number of adjustments in payment when ownership of the aircraft was transferred to a potential buyer.
According to reports, the aircraft was manufactured in 2002. The seller acquired the aircraft in 2018, and since then the aircraft has been leased to a major European international airline operator on an operating lease to generate lease revenue.