CALC Completes a SLB Transaction for Two A330 with China Southern Airlines
Showcasing Professional Asset Management Capability for Mid-aged to End-of-life Aircraft
31 Jul 2020
Hong Kong, 31 July 2020 - China Aircraft Leasing Group Holdings Limited ("CALC" or the “Company”, HKSE stock code: 01848), a full value chain aircraft solutions provider for the global aviation industry, announced that it has completed a sale and leaseback (SLB) transaction with China Southern Airlines Company Limited (“China Southern”) for two A330-200 aircraft. These aircraft will be returned to CALC at the end of the leases, and be handled by the Group with its established mid-aged to end-of-life aircraft solutions.
These two A330-200 aircraft, aged 10 years and 15 years respectively, have been delivered in end July. Through this cooperation, CALC facilitates further optimization of China Southern’s fleet structure, helping it to meet its operations demand amid the current transitional period. Furthermore, such arrangement helps manage the carrier’s risk when the lease ends. With its established capability in efficient and professional delivery, global placement, and retired aircraft asset management, CALC has a proven track record in assisting airlines in fleet management with its head-to-tail service offerings. Such competitive edges also made CALC among the few industry participants in the domestic Chinese market who offer fleet upgrade solutions.
Ms. Winne Liu, Deputy CEO and Chief Commercial Officer of CALC, said, “We are extending our gratitude to China Southern for the trust they put on us. As the largest airline company in Asia, China Southern has been exhibiting strong resilience and social responsibility during the Covid-19 pandemic. We are fully confident about China Southern’s future development, and have been honored to extend our cooperation in managing these two A330-200 aircraft. The pandemic has highlighted the world’s top-tier airline companies’ demand for diversified solutions for both new and old aircraft. CALC will continue to strongly support our airline clients by offering our professional full value chain services as always.”
CALC has pioneered in mid-aged to end-of-life aircraft solutions in the domestic Chinese market, seeking to turn the passive demand for retiring and obsolete aircraft handling in the country into active participation in fleet upgrades for airlines, thereby adding value to aircraft assets. In late 2019, FL ARI Aircraft Maintenance & Engineering Company Ltd, CALC’s MRO joint venture company, received the first accreditation in China for aircraft disassembly from Civil Aviation Administration of China.