01 Sep 2024

BOC Aviation Signs Frontier Airlines Airbus A320neo SLB

BOC Aviation Signs Frontier Airlines Airbus A320neo SLB

BOC Aviation announced that it has signed purchase-and-leaseback agreements with existing Frontier Airlines for 15 new Airbus A320NEO aircraft. The aircraft are scheduled to be delivered in 2025 & 2026. BOC Aviation CEO & MD Steven Townend, said “We are excited to be working again with long-time customer Frontier, which is the largest A320NEO operator in the United States. This transaction leverages our strong available liquidity and builds on our solid existing pipeline of aircraft scheduled for delivery beyond 2024, as we expand both our revenue base and our fleet of latest generation aircraft.”

Boeing forecasts China Commercial Fleet to double

China will more than double its commercial airplane fleet by 2043 as its aviation industry expands and modernizes to meet growing demand for passenger and cargo air travel, according to Boeing's 2024 Commercial Market Outlook (CMO) for China, the company's long-term forecast of demand for commercial airplanes and related services.  China's commercial fleet will grow 4.1% annually, from 4,345 to 9,740 airplanes by 2043, and its annual passenger traffic growth of 5.9% will exceed the global average of 4.7%, according to the CMO.

Boeing vice president of Commercial Marketing Darren Hulst, said "China's commercial aviation market for passengers and cargo continues to expand, driven by economic growth and airlines building their in-country networks. As this forecast shows, China's airlines will see strong demand, requiring further growth of their modern fuel-efficient fleets."

CALC reports revenue growth and expands fleet 

China Aircraft Leasing Group Holdings (CALC) announced its unaudited interim results for the six months ending June 30, 2024, reporting an 8.7% increase in total revenue to HK$2,528.1 million. During the first six moths of 2024, CALC's fleet grew to 199 aircraft, including 172 owned and 27 managed, following the delivery of 12 new-generation, fuel-efficient models. The Group also signed 17 aircraft sales and purchase agreements, successfully completing the sale of five aircraft.

Chinese carriers take delivery of COMAC C919 aircraft

Chinese carriers Air China and China Southern Airlines are set to become the second and third Chinese carriers to operate the COMAC C919 aircraft following delivery this week. According to Zhongtai Securities report, COMAC is expected to reach an annual production rate of 100 aircraft by around 2030, with total production exceeding 1,000 jets by 2035. COMAC this year has increased sales and production plans and has been marketing the C919 abroad, focused on Southeast Asia and also to growing aviation market Saudi Arabia.

Image Credit: Acroterion via Creative Commons 

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