22 May 2017

China Aircraft Leasing Newsletter 22 May

Avolon Celebrates Delivery of the World’s First Boeing 737 MAX to Malindo Air Avolon 16 May celebrated the delivery of the world’s first Boeing 737 MAX 8 aircraft to Malindo Air. The delivery took place during a special ceremony at Boeing’s 737 Delivery Centre in Seattle where Avolon, Boeing and CFM International, the aircraft’s engine manufacturer, were present. Avolon has commitments for 60 Boeing 737 MAX 8/9 aircraft, delivering through to 2021. This is Avolon’s fifth aircraft on lease to Malindo Air, and is part of a portfolio of 19 aircraft currently on lease to Lion Air Group. CALC disposes FLR for two aircraft Chinese Aircraft Leasing Group (CALC) has completed the disposal of finance lease receivables (FLR) for two A320ceo for HK$505 million. The Group recorded a gain on the disposal. CALC will sell the remaining rental receivables to investors including banks and insurance companies but retained the ownership of the aircraft. China’s Loong Air to lease five A320s from BOC Aviation Hangzhou-based Loong Air plans to lease five Airbus A320s from BOC Aviation in an effort to facilitate rapid growth. According to BOC Aviation, the aircraft are scheduled to be delivered in 2017. Loong currently already operates twenty A320-200s from its main base in Hangzhou operating on a network including forty-four domestic destinations in China. It also operates three B737-300(F) freighters. Dragon Jade Extends Its Business to China by Offering Financial Leasing Solutions to Airlines Customers Dragon Jade International Limited through a newly created Hong Kong subsidiary, Dragon Jade International Financial Leasing Company Limited (DGFL), is pleased to announce that it is aircraft financing solutions, including both direct financial leasing and sale-leaseback services to customers in health care and airlines in China. Onshore China customers will be serviced through 100% owned subsidiary Shenzhen Dragon Jade Financial Leasing Company Limited formed under the laws of the Peoples' Republic of China. Icelandair concludes Sale and leaseback of four Boeing 737 MAX aircraft with BOCOMM Leasing Aviation Icelandair, a subsidiary of Icelandair Group, has signed an agreement for sale and leaseback of four Boeing 737 MAX aircraft. One aircraft will be delivered in the first quarter of 2018 and three in the first quarter of 2019. Two of the aircraft are Boeing 737 MAX8 and two are Boeing 737 MAX9. Icelandair has an option to add two aircraft to the agreement.  The Lessor is BOCOMM Leasing Aviation, a subsidiary of Bank of Communication in China. The lease periods are almost 9 years. Zetta Jet Keeps Spreading Its Wings Across Continents Since launching in August 2015, Singapore-based Zetta Jet has quickly established itself as one of the fastest growing charter flight providers in the Asia Pacific region Back in early November 2016, Zetta Jet signed a $129 million deal to lease four Bombardier Challenger 650s from China’s Minsheng Financial Leasing, which bought the 12-seat twinjets from the Canadian manufacturer. Through its satellite base in Los Angeles, the privately owned operator also has extended its reach into the North American market. Acumen Aviation © 22 May All Rights Reserved.