China Aircraft Leasing Group Holdings Limited entered into an Aircraft Purchase Agreements with Airbus for two A320-200 CEO series aircraft on 31 December 2015, bringing the lessor’s order book to 142 A320 series aircraft. It is estimated that the aircraft will be delivered to the lessor in November 2016.
CALC will purchase the two aircraft at an aggregate consideration of no more than $194 million. The consideration will be partly settled by the Group’s internal resources and partly by financing arrangements with banking institutions. In accordance with industrial practice, Airbus will grant CALC price concessions for those aircraft to be purchased. Such price concessions are determined through negotiations, and the consideration will be considerably lower than the listed price as a result.
“The acquisition of additional aircraft supports CALC’s growth strategy and fleet expansion plan," said Chen Shuang, Chairman and Chief Executive Officer of CALC. "It also reflects our close relationship with Airbus and the Group’s ability to source new aircraft to match customer demand under dynamic market conditions. We are seeing strong demand for our aircraft in 2016, and the near term deliveries perfectly match with such demand. The Group will continue to capitalise on the favorable conditions of the aircraft leasing market through proactive enhancement and management of our aircraft portfolio, to bring sustainable growth to our business, while providing our airline customers with capital management efficiency and operating flexibility.”
CALC’s current portfolio consists of 63 current generation Airbus and Boeing aircraft with an average age of less than 4 years. With the newly signed purchase agreement, CALC’s fleet is expected to expand to 170 aircraft by 2022. The Group is speeding up its international expansion plans and has strengthened its cooperation with fast growing carriers from the expanding emerging markets in order to diversify its portfolio. CALC targets to build a balanced portfolio of Chinese and non-Chinese airlines client by 2020.
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