16 Oct 2023
China Aircraft Leasing Group Holdings Limited (CALC) leases A320neo to Air India
Avolon announces transaction with The Cathay Group
Dublin based aircraft lessor Avolon announced the sale and leaseback of nine new Airbus A320neo family aircraft with the Cathay Group. The Airbus A320neo and Airbus A321neo will be delivered in 2026 and 2027, supporting Cathay Group’s long-term growth plan at its Hong Kong base. Avolon President and Chief Commercial Officer Paul Geaney, said “The Cathay Group is a leading airline operator in Asia, and we are very pleased to agree this sale and leaseback transaction with them and look forward to our future partnership. Passenger traffic in and out of Hong Kong has bounced back strongly this year, and these aircraft will help to support the Cathay Group’s fleet strategy and future expansion.”
BOC Aviation Announces Largest Club Term Loan
BOC Aviation announced signature of a $1.375 billion club term loan transaction with 16 banks globally. The lessor it plans to use the proceedings for general working capital purposes and refinancing existing debts. BOC Aviation Deputy Managing Director and Chief Financial Officer, Steven Townend said “We are very pleased to conclude our largest club term loan transaction at such competitive pricing levels. This will enable us to remain agile in the market, and to continue investing in accretive growth opportunities. We continue to see strong support from global banks and are pleased to add three new lenders to our banking group.”
China Aircraft Leasing Group Holdings Limited (CALC) leases A320neo to Air India
China Aircraft Leasing Group Holdings Limited (CALC) announced the delivery of its first of nine new Airbus A320NEO aircraft to Air India, to be delivered in 2023 and 2024 on a phased basis powered by CFM LEAP-1A engines. CALC Executive Director, and CCO, Winnie Liu said “We thank Air India for their trust in CALC. CALC is delighted to be embarking on another collaboration with our longstanding customer Air India to support the airline’s robust growth with the latest technology aircraft. Riding on regional rapidly expanding aviation market, we are excited to play a role in bolstering the airline’s fleet and reinforcing its position as one of the world’s leading carriers offering superb flying experience.”
Jetstar Asia connects Singapore to Wuxi
Jetstar Asia has announced a new route from Singapore’s Changi base to Wuxi commencing 28 December initially operating twice weekly using Airbus A320 aircraft, with plans to increase to four times weekly from 15th January 2024. Jetstar Asia CEO, Barathan Pasupathi said “China is an important market and following the successful launch of our services to Haikou earlier this year, we’re excited to add another Chinese city to our growing list of destinations and believe Wuxi has the right dynamics to be a successful route. There is so much to see and do in Wuxi and the surrounding region, and in return our Chinese customers will enjoy direct low-cost flights to Singapore as well as access to our expanding network of incredible Southeast Asian countries.”
Image credit: CALC
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