07 Dec 2020

China Aviation Industry Newsletter 7 December

BOC Aviation Delivers First Two Of Five New Airbus A321neo To Middle East Airlines BOC Aviation announced that it has delivered the first two of five new Airbus A321NEO aircraft for lease to Middle East Airlines. Robert Martin, Managing Director and Chief Executive Officer, BOC Aviation, said: “We are very pleased to deliver our first pair of new Airbus A321NEO aircraft on lease to Middle East Airlines, with whom we share a long-term relationship that spans more than 20 years. This delivery is testament to the strong cooperation we share with industry-leading airlines such as Middle East Airlines, especially in this challenging environment. We look forward to working with our customers to provide more fuel-efficient and technologically advanced aircraft solutions in the future.” BOC Aviation Increases Revolving Credit Facility With Bank Of China To US$3.5 Billion And Extends Maturity To 2026 BOC Aviation announced that it has increased the amount of the committed, unsecured revolving credit facilityfrom its largest shareholder, Bank of China and extended the maturity to 2026. The new terms of the facility now provide the Company with $$3.5 billion to support its future growth, an increase of $1.5 billion. The final maturity of the RCF has also been extended from 28 April 2022 to 31 December 2026. Robert Martin, Managing Director and Chief Executive Officer, said “The upsizing and extension of the RCF is a demonstration of the strength of the relationship between BOC Aviation and our major shareholder, Bank of China.” CDB Aviation Purchases and Leases Back Nine 737 MAX Aircraft to WestJet CDB Aviation announced the company has completed the financing for eight of the nine Boeing 737 MAX 8 aircraft under the purchase and leaseback agreement with Calgary-based carrier WestJet. The ninth aircraft is anticipated to close in December 2020. The aircraft were originally delivered to WestJet over the past three years. CNSC wins departures duty free contract at new Guiyang Longdongbao Airport T3 China National Service Corporation (CNSC) has been awarded the departures duty free contracts at Guiyang Longdongbao International Airport’s new Terminal 3, which is currently under construction. Guiyang Longdongbao is the gateway to Guizhou Province in southwest China, whose capital is the city of Guiyang. MTU Maintenance Zhuhai and Pratt & Whitney sign PW1100G-JM network agreement MTU Maintenance Zhuhai and Pratt & Whitney have signed a network agreement that covers the maintenance, repair and overhaul of Pratt & Whitney GTF™ PW1100G-JM engines at the facility in China. The facility will begin introduction of PW1100G-JM capabilities immediately and expects to be able to carry out MRO work from mid-2021. MTU Maintenance Zhuhai estimates a volume of 1,000 shop visits in the next ten years. Acumen Aviation © 30 November 2020 All Rights Reserved.