China Aircraft Leasing Group seeks to expand in Asia after becoming the first plane lessor in the region to go public last month.
The company has signed an agreement with state-owned carrier Air India to lease five Airbus A320s starting next year, chief financial officer TT Yu said, without providing a value for the contract. This is the company’s first leasing pact with a non-Chinese carrier, he said.
Leasing companies are boosting their fleet and expanding across Asia as the region is set to overtake the US as the world’s largest plane market, spurred by demand from China, India and Southeast Asia.
Last month, China said it will encourage its lessors to look for opportunities overseas and yesterday billionaire Li Ka-shing’s Cheung Kong said it submitted a preliminary proposal for some planes of Awas Aviation Capital.
Even with the overseas expansion, most of China Aircraft Leasing’s business will continue to come from its home market, Yu said. The company, which counts Air China, China Eastern Airlines and China Southern Airlines among its customers, has said it has a 3.1 per cent share of the business in the country.
04/08/14 Bloomberg
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The company has signed an agreement with state-owned carrier Air India to lease five Airbus A320s starting next year, chief financial officer TT Yu said, without providing a value for the contract. This is the company’s first leasing pact with a non-Chinese carrier, he said.
Leasing companies are boosting their fleet and expanding across Asia as the region is set to overtake the US as the world’s largest plane market, spurred by demand from China, India and Southeast Asia.
Last month, China said it will encourage its lessors to look for opportunities overseas and yesterday billionaire Li Ka-shing’s Cheung Kong said it submitted a preliminary proposal for some planes of Awas Aviation Capital.
Even with the overseas expansion, most of China Aircraft Leasing’s business will continue to come from its home market, Yu said. The company, which counts Air China, China Eastern Airlines and China Southern Airlines among its customers, has said it has a 3.1 per cent share of the business in the country.
04/08/14 Bloomberg
