Tianjin, June 19, 2015 /PRNewswire/ -- China’s largest independent operating aircraft leasing company -- China Aircraft Leasing Group Holdings Limited (abbreviated as China Aircraft Leasing; stock code: 01848.HK) on June 19, 2015, successfully delivered a brand-new A320-200 aircraft to Sichuan Airlines Co., Ltd. (abbreviated as Sichuan Airlines) at the Airbus (Tianjin) Delivery Centre located in Tianjin, China. With this delivery, the fleet size of China Aircraft Leasing has reached 50 aircraft, all introduced under operating lease models for customer operations. A fleet of 50 aircraft marks an important milestone for China Aircraft Leasing. Each aircraft records the company’s step-by-step development and reflects the growth trajectory of China’s aircraft leasing industry. Starting with the 50th aircraft, it also signifies that China Aircraft Leasing has entered a new phase and opened a new chapter.
Every aircraft is a significant achievement for China Aircraft Leasing. The delivery of the 50th aircraft highlights the accomplishments of the Group since its establishment and marks the beginning of a new chapter in the development of China Aircraft Leasing. More importantly, it underscores the company’s commitment to China’s aviation finance industry.
With the completion of this aircraft delivery, China Aircraft Leasing’s fleet has expanded to 50 aircraft. The majority of the fleet consists of Airbus aircraft, including the A330, A321, A320, and A319. Customers range from leading airlines in China and Asia to newly established regional carriers.China Aircraft Leasingis dedicated to providing diversified passenger aircraft solutions for various types of airline customers.
Over the past nine years since its establishment, China Aircraft Leasing has pioneered multiple aircraft leasing models: founded in Hong Kong in 2006, it was the first aircraft leasing company invested in by Chinese capital; in 2010, it established a presence in the Tianjin Free Trade Zone, becoming the first foreign-invested aircraft leasing company in a domestic bonded zone, and also pioneered a dual-platform leasing model, providing practical cases for the implementation of new policies by Chinese customs, foreign exchange, and tax authorities; in 2013, it purchased three 24-year-old A300 cargo planes that had been grounded for many years from China Eastern Airlines. After restoring their performance, the engineering team sold them overseas for operation under EASA airworthiness standards and simultaneously leased new aircraft to China Eastern Airlines. This made it the first domestic company to complete a package deal of phasing out old planes and introducing new ones. Since then, it has focused on developing solutions for old aircraft. In 2014, it signed a memorandum of understanding with the Harbin Municipal Government to establish an aircraft dismantling base project, aiming to become one of the world’s largest civil aircraft dismantling centers. To date, China Aircraft Leasing has established a development strategy and corporate positioning as a “provider of full life-cycle aircraft solutions,” and built a business model that is “sustainably operational, replicable, and leverages internal resource synergies.”
China Aircraft Leasing is also actively committed to financial innovation, actively exploring diversified financing channels, improving asset liquidity, reducing financing costs, and enhancing the company’s risk resistance. The company has successively formed strategic partnerships with the China Development Bank, the Export-Import Bank of China,China Construction Bank, and Bank of Communications.It created a successful case of securitizing aircraft leasing receivables assets within China and collaborated with multiple insurance companies and financial institutions under this model. In 2014, it secured an export credit ECA-guaranteed loan from Europe, marking the beginning of its global expansion. It was listed on the Main Board of the Hong Kong Stock Exchange in 2014, gaining recognition from Asian capital markets. In 2015, its Tianjin subsidiary successfully obtained approval to issue medium-term notes, becoming the first aircraft leasing company to receive such approval.
The company’s fleet size has grown steadily, with direct aircraft orders and slot reservations being the main model. In 2011, it ordered 20 domestically produced C919 aircraft, becoming the launch customer for the C919. In 2012, during the Paris Air Show in France, it announced an order for 36 A320 series aircraft, later adding 4 more A320s. In November 2014, it announced an order for 100 A320 series aircraft (including 74 A320NEOs), setting a record for the largest single-customer aircraft order by a Chinese enterprise; the cumulative total of aircraft ordered reached 140 Airbus planes. The direct procurement model increases Chinese enterprises’ purchasing volume from Europe, helping to strengthen China’s voice in international trade.
Mr. Duan Xiaoge, Senior Vice President in charge of Engineering and Asset Management at China Aircraft Leasing, said: “The delivery of the 50th aircraft is an unforgettable moment for China Aircraft Leasing. The current fleet of 50 aircraft has witnessed the growth of China Aircraft Leasing and our professional team overcoming challenges time and again, practicing innovation and achieving steady progress. On behalf of China Aircraft Leasing, I would like to thank our airline customers and financial institution partners for their continuous support and trust, which serve as the driving force and strong backing for our business innovation. I also thank local government departments for providing a favorable environment for the development of the leasing industry, the Civil Aviation Administration for its guidance, and Airbus for its high-end aircraft products and comprehensive support. China Aircraft Leasing will continue to strive to become a more innovative, flexible, and high-value-added provider of full aircraft industry chain solutions, aiming to establish itself as an internationally renowned aircraft leasing and asset management company, realizing the vision of standing on China and overlooking the world.”
The successful delivery of 50 aircraft adds momentum and advantage to the overseas development strategy of China Aircraft Leasing. The secured aircraft orders and the joining of internationally seasoned aviation experts have laid a solid foundation for international business. Looking ahead, China Aircraft Leasing will fully advance its overseas expansion strategy, further strengthening cooperation with renowned overseas airlines and major financial institutions, opening a new chapter for the sustainable, healthy, and diversified development of China Aircraft Leasing’s business.
About Sichuan Airlines Co., Ltd.
Sichuan Airlines Co., Ltd. was formerly known as Sichuan Airlines and officially commenced operations on July 14, 1988. Sichuan Airlines Co., Ltd. was established on August 29, 2002. It is 40% owned by Sichuan Airlines Group Co., Ltd.; other shareholders include China Southern Airlines Co., Ltd., China Eastern Airlines Co., Ltd., Shandong Airlines Co., Ltd., and Chengdu Yinxing Jinge Investment Co., Ltd.
Since its establishment, Sichuan Airlines has been operating safely for 26 years. Currently, Sichuan Airlines owns 100 Airbus aircraft, making it the largest all-Airbus fleet airline in China. Sichuan Airlines Co., Ltd. is headquartered at Chengdu Shuangliu International Airport in Sichuan, with branches in Chongqing and Kunming, and bases in Hangzhou, Sanya, Beijing, Xi'an, Harbin, and other locations, forming a route network covering over 80 large and medium-sized cities across the country. Its routes have grown from the initial 7 to over 200, and include flights to regions such as Hong Kong and Taiwan, as well as international routes to Seoul, Maldives, Phuket, Saipan, Jakarta, Ho Chi Minh City, Vancouver, Melbourne, and Sydney; forming an organic combination of international/regional routes, domestic trunk and secondary routes, and feeder networks.
http://www.scal.com.cn
About China Aircraft Leasing Group Holdings Limited
China Aircraft Leasing Group Holdings Limited (abbreviated as “China Aircraft Leasing”; stock code: 01848.HK) is the largest operating aircraft lessor in China by the number of new aircraft imported each year. Leveraging its elite team with rich international market experience and global financing capabilities, the Group has successfully developed into a supplier of full aircraft life-cycle solutions. In addition to providing conventional services such as operating leases, finance leases, and sale-and-leaseback, China Aircraft Leasing also offers a wide range of value-added services to customers, including fleet planning consultancy, structured financing, fleet renewal, and aircraft dismantling, delivering tailor-made full-life-cycle aircraft solutions. Currently, the Group owns and manages 50 commercial passenger aircraft and plans to expand its fleet to 100 aircraft by 2016.
China Aircraft Leasing was listed on the Main Board of the Hong Kong Stock Exchange on July 11, 2014, becoming the first aircraft leasing company listed in Asia. The Group is headquartered in Hong Kong, with offices in Beijing, Shanghai, Shenzhen, Tianjin, Labuan (Malaysia), Toulouse (France), and Dublin (Ireland).
http://www.calc.com.hk
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