06 Jun 2017

China Aircraft Leasing Newsletter 6 June

Airbus and China to enhance cooperation in aviation and aerospace Airbus and China have signed a Memorandum of Understanding (MoU) on aviation and aerospace, further enhancing a spirit of cooperation. The MoU was signed in Berlin by Fabrice Brégier, Airbus COO and President of Commercial Aircraft, and He Lifeng, Chairman of the National Development and Reform Commission (NDRC) of China. The MoU strengthens and deepens mutually beneficial collaboration between Airbus and Chinese aviation industry in various fields. Based on an already established solid foundation, Airbus and China will support the development of engineering skills and technology innovation in China and also promote the integration of Chinese suppliers into Airbus’ global supply chain. Atlas Air Worldwide Places 747-400F with Yangtze River Airlines Atlas Air Worldwide Holdings, Inc. announced 5 June the ACMI placement of a 747-400 freighter with Yangtze River Airlines, a subsidiary of the HNA Group, based in Shanghai, China. The 747-400F will be operated by Atlas Air, Inc. and will fly on behalf of Yangtze River Airlines through an aircraft, crew, maintenance and insurance agreement. The new service will commence this month and will serve routes between China and the United States. BOC Aviation Adds Six New Airbus Aircraft To Orderbook BOC Aviation Limited announced 26 May that it has ordered four new Airbus A320NEO family aircraft (including A320 and A321 variants) and two new Airbus A330-900 aircraft. All six Airbus aircraft have been committed for lease to Portugal’s flag carrier, TAP Portugal, and will be delivered between 2018 and 2020. BOC Aviation delivers one Boeing 777-300ER aircraft to Turkish Airlines BOC Aviation announced 26 May the delivery of one Boeing 777-300ER aircraft to Turkish Airlines. The aircraft, new to the Company’s portfolio, was acquired under a purchase and leaseback agreement with the airline. BOC Aviation Takes Delivery Of First Airbus A320NEO Aircraft BOC Aviation Limited announced 24 May the delivery of its first Airbus A320NEO aircraft to its fleet. The aircraft was delivered on lease to Vistara. This aircraft delivery is part of an Airbus A320 family lease placement transaction signed with the airline in 2014, including seven A320NEO variants, all of which will be powered by the CFM LEAP engine. Hong Kong will gain if aviation leasing takes off, but firms must give back to the community The latest government budget includes an initiative to offer tax breaks so that aircraft financing companies are drawn to use Hong Kong as their business domicile. As Financial Secretary Paul Chan Mo-po said: “Such a concession will attract aircraft leasing companies to develop their business in Hong Kong, thereby creating job opportunities for the financial and aviation industries.” The benefits for Hong Kong in becoming a centre for aviation leasing are obvious and considerable. According to Boeing Capital, over the next two decades China alone will need about 6,000 new aircraft, valued at more than ­HK$6 trillion, with about a third expected to be financed through leasing. Mitsubishi unit funds Vietjet Air’s aircraft purchases Mitsubishi UFJ Lease & Finance Company Limited (MUL) will finance Vietjet Air’s acquisition of three brand new A321 aircraft, worth $348 million. Vietjet will receive the aircraft this year to meet its expansion of flight network. Under the agreement, Vietjet and MUL - a member of Japan’s leading finance group Mitsubishi UFJ Financial Group will also work together to share best practices for the operation of airlines. UPS to establish joint venture with China's SF Holding United Parcel Service (UPS), has announced that it plans to establish a joint venture (JV) with China's SF Airlines  giving it access to SF's extensive Chinese network. SF Airlines' network extends to thirty-six destinations across China, Hong Kong, Taiwan and Cambodia using an all-Boeing fleet of thirty-eight aircraft comprising: thirteen B737-300(F)s, three B737-400(F)s, seventeen B757-200(F)s, and five B767-300(F)s. Acumen Aviation © 6 May All Rights Reserved.