28 May 2018

China Aircraft Leasing Newsletter 28 May

Air Charter Service set for China expansion The Chinese operation of aircraft charter specialist, Air Charter Service, has moved to larger premises in Beijing to enable the next step in its plans for expansion. Wanny Wu, managing director of ACS China, said: “The new office is in the heart of the business district of the city and double the size of our previous premises. This is an exciting time for the Chinese aviation industry, with the government’s plans to increase the number of airports from 220 to 260 by the end of 2020. When you think that the US has more than 5,000 airports and airfields, there is still a long way to go, but we are heading in the right direction. BOC Aviation Delivers First Boeing 737 MAX 8 Aircraft BOC Aviation announced 17 May that it has delivered its first Boeing 737 MAX 8 aircraft to its newest customer, Corendon Airlines, based in Turkey. The aircraft is the first delivery of the Company’s 737 MAX family aircraft. Steven Townend, Chief Commercial Officer (Europe, Americas, Africa), BOC Aviation said ““This delivery represents a number of significant milestones for us, with the aircraft being the first addition of the Boeing 737 MAX 8 to our fleet, the first Boeing 737 MAX 8 to be delivered into Turkey and our first delivery to Corendon Airlines.” Chinese Caravan’s Flying Textron Aviation’s joint venture (JV) in China for assembly of its workhorse Cessna Caravan 208 turboprop single is hitting its stride, while the JV for assembly of the Cessna Citation XLS+ and market demand for the midsize twinjet lags, Mike Shih, v-p strategy and business development for China, told AIN last month at ABACE. The Caravan JV, Cessna-Avic (Shijiazhuang) Aircraft Co., based in Shijiazhuang, has delivered more than 50 Caravan 208s to customers in China since beginning operations in 2013. Chinese Investment in Foreign Airlines Proliferates Despite a progressive shift toward deregulation and an influx of airline reforms, several Chinese investors are moving beyond their home turf and establishing new entrants on foreign soil. Cambodia State Secretariat of Civil Aviation spokesman Sinn Chanserey Vutha told AIN that four Chinese-backed carriers—KC International Airlines, Cambodia Airways, Domrey Angkor Airlines, and MJ Airlines—have reached various stages of applying for their air operator certificates (AOC) with plans to launch late this year or early next year. Chinese-Russian widebody to require higher engine thrust Sukhoi Civil Aircraft, the commercial aviation unit for United Aircraft, tells FlightGlobal that the requirement is now for 78,000lb-thrust turbofans, up from the previous 75,000lb-thrust specification. The China-Russia Commercial Aircraft Corporation (CRAIC) is due to receive proposals for the engines by 31 May. CMB Financial Leasing closed a debt facility for six A320neos on lease to IndiGo CMB Financial Leasing has concluded a refinancing debt facility for six Airbus A320neo narrowbody aircraft. These aircraft are currently on operating leases with Indian airline IndiGo. Macau Aviation authority to help test China's first long distance commercial aircraft The Civil Aviation Authority of Macau SAR (AACM) has announced that it has signed an agreement with Mainland China and Hong Kong aviation authorities for the operational evaluation and possible joint certification management of the Comac C919 passenger aircraft. UAS Makes Inroads in China on Deer Jet Alliance Fresh from its tie-up with China’s Deer Jet, Dubai-based UAS has seen an upturn in business and is looking to become further involved in the Chinese market. Deer Jet is a wholly owned subsidiary of the HNA Group, and the alliance with UAS was launched in December 2016. In the lead-up to EBACE the two companies were preparing to make announcements about partnerships and synergies. Xiamen Airlines takes delivery of its first Boeing 737 MAX, expanding the fleet to 200 aircraft On May 22 local time, Xiamen Airlines took delivery of its first Boeing 737 MAX aircraft in Seattle, expanding the fleet to 200 aircraft, and, by doing so, formally entering the pantheon of the world's largest airlines. With the addition of the aircraft, Xiamen Airlines passes a key milestone, with the size of the fleet now at 200 airplanes. The airline passed the first milestone of 100 planes in 2013, and continued to grow by adding roughly 20 aircraft per year and doubling the size of the fleet within five years. During the period, the airline's operating profits also increased year by year, booking gross profits exceeding 10 billion yuan (approx. US$1.5 billion). The airline has been profitable for 31 consecutive years, reflecting the rapid growth in China's civil aviation industry. Acumen Aviation © 28 May All Rights Reserved.