Paris and Hong Kong, June 17, 2015 /PRNewswire/ -- China's largest independent operating aircraft leasing company – China Aircraft Leasing Group Holdings Limited (CALC; stock code? 01848.HK) – has signed a memorandum of understanding with Pratt & Whitney to outfit its 18 Airbus A320neo aircraft with Pratt & Whitney“PurePower”(PurePower®) engines. The aircraft will be delivered starting in 2017. Pratt & Whitney is a unit of United Technologies Corp. (NYSE: UTX).
Left: Mr. Deng Yuping, Senior Vice President of Banking & Treasury of China Aircraft Leasing; Middle Right: Mr. Jens Dunker, Senior Vice President of Aircraft Trading & Global Marketing of China Aircraft Leasing
Senior Vice President of Aircraft Trading & Global Marketing of China Aircraft Leasing Group Holdings Limited Jens Dunker said at the Paris Air Show?“A320neo aircraft equipped with PurePower engines will become high-value assets for the Group’s fleet and offer multiple advantages to customers, including improved fuel efficiency, reduced carbon emissions, lower noise levels, and decreased operating costs. CALC is the first Chinese lessor to select this engine for its A320neo aircraft, and ordering the next-generation narrowbody aircraft with these engines is part of our long-term growth strategy. This purchase also demonstrates CALC’s commitment to further and long-term development in the aviation industry, continuing to provide airline customers with value-added aircraft configurations and comprehensive solutions.”
“CALC is a leading aircraft lessor in both the Chinese and international markets. Our PurePower engines complement the A320neo series aircraft and will bring excellent configurations to its existing fleet.”Mr. David Hess, President of Pratt & Whitney Commercial Engines, Greg Gernhardt said?“Compared to current engines, the Geared Turbofan™ engine delivers more than 16% better fuel efficiency, significantly reducing airlines’ operating costs; aircraft lessors focused on cost savings for their airline customers highly value this performance advantage.”
CALC is rapidly expanding its fleet portfolio to meet airlines’ demand for cutting-edge and reliable aircraft configurations and to seize opportunities for increasing market share. Prior to this memorandum of understanding, CALC had ordered Pratt & Whitney V2500 engines for 8 Airbus A320ceo aircraft.
Mr. Duan Xiaoge, Senior Vice President of Technology & Asset Management of China Aircraft Leasing, concluded?“CALC will continue to invest in advanced technology and innovative solutions to build the Group into an international provider of end-to-end aircraft solutions.”
Currently, CALC’s fleet consists of 49 in-service Airbus and Boeing aircraft with an average age of 2.5 years. In December 2014, CALC placed a major order for 100 Airbus A320 series aircraft, bringing its total orders to 140 A320 series aircraft.
China Aircraft Leasing Group Holdings Limited (referred to as “China Aircraft Leasing”; stock code: 01848.HK) is China’s largest independent operating aircraft leasing company in terms of the number of new aircraft imported annually. With its experienced and internationally seasoned team and global financing capabilities, the Group has successfully developed into a provider of comprehensive aircraft lifecycle solutions. In addition to offering conventional services such as operating leases, finance leases, and sale-and-leaseback, CALC also provides customers with a wide range of value-added services including fleet planning consultancy, structured financing, fleet refurbishment, and aircraft disassembly, delivering customized full-life-cycle aircraft solutions. Currently, the Group owns and manages 49 commercial passenger aircraft and plans to expand its fleet to 100 aircraft by 2016.
Listed on the Main Board of the Hong Kong Stock Exchange on July 11, 2014, CALC is Asia’s first listed aircraft leasing company. The Group is headquartered in Hong Kong with offices in Beijing, Shanghai, Shenzhen, Tianjin, Labuan (Malaysia), Toulouse (France), and Dublin (Ireland). For more information about the company, please visit http://www.calc.com.hk
Pratt & Whitney is a world leader in the design, manufacture, and service of aircraft engines and auxiliary power units. United Technologies Corp. is headquartered in Hartford, Connecticut, USA, and is a company that provides high-technology systems and services to industries such as construction and aerospace. For more information about United Technologies Corp., please visit its website? http://www.utc.com, or Twitter:@UTC.
For more information about the company, please visit http://www.pratt-whitney.com
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This press release contains forward-looking statements about future business opportunities. Actual results may differ materially due to certain risks and uncertainties, including but not limited to changes in the level of demand in the aerospace industry, changes in the level of air travel, changes in the number of aircraft to be built?challenges in designing, developing, producing, and supporting advanced technologies; the ability of the parties to reach final agreements for the sale and support of engines?as well as other risks and uncertainties, including those disclosed from time to time in United Technologies Corp.’s filings with the U.S. Securities and Exchange Commission.