China Aircraft Leasing Group Holdings Limited, the largest independent aircraft operating lessor in China, is pleased to announce that it has signed lease agreements with Sichuan Airlines Co., Ltd. for the lease of three Airbus A320 aircraft on a 144-month lease term. The three aircraft are expected to be delivered in 2016.
Expected average annual return on assets in respect of the lease agreements is approximately 1.8%, which reflects CALC managed to retain existing customers with lease terms that are profitable for the Group, while providing its airline clients with capital management efficiency and operating flexibility.
“The additional lease arrangements demonstrate the continued trust from Sichuan Airlines," said Ms. Winnie Liu, Deputy Chief Executive Officer and Chief Commercial Officer of CALC. "With our efficient delivery and placement capabilities, we had delivered three aircraft to the carrier in September 2015 according to our agreements signed in August 2014. We are confident that the newly signed leases and quick delivery schedules would again address Sichuan Airlines’ needs and provide timely support for its expansion plans.
“Being one of the leading aircraft operating lessors and a one-stop, full life cycle aircraft solutions provider in China, we have built a platform that covers all aircraft related services. The Group will continue to capitalize on the favorable conditions of the aircraft leasing market through proactive enhancement and management of our aircraft portfolio and offer innovative financing solutions to our customers, so as to capture business opportunities in both domestic and overseas markets to create value for shareholders and retain our leading position as one of the largest independent aircraft lessors in China.” she said.
CALC’s portfolio consists of 63 current generation Airbus and Boeing aircraft with an average age of less than 4 years. With the purchase agreement signed on 31 December 2015 with Airbus for two additional A320s, the Group expects to expand its fleet to 170 aircraft by 2022. The Group is speeding up its international expansion plans while strengthening its cooperation with Chinese carriers, and targets to build a balanced portfolio of Chinese and non-Chinese airlines client by 2020.
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