[16 July 2015 – Hong Kong] China Aircraft Leasing Group Holdings Limited (“CALC” or the “Group”, stock code: 01848.HK) is pleased to announce that the Group has successfully entered into agreements with its long-term customer China Eastern Airlines Corporation Limited (“China Eastern Airlines” or “CEA”) for the lease of six Airbus A320 aircraft. The deal further strengthens CALC’s collaboration with CEA. 

Six Airbus Aircraft Lease Agreements with CEA

The Group entered into the aircraft lease agreements to lease six Airbus A320 aircraft to CEA on a 144-month lease terms. The six Airbus aircraft are expected to be delivered in 2015 and 2016. 

Ms. Winnie LIU, Executive Director and Executive Vice President of CALC, said, “The Group's long-term partnership with CEA began in 2013 with resales of three old aircraft from CEA. At the same time, the Group leased CEA six new aircraft. For that, CALC became the first Chinese lessor completing a fleet upgrade which covered disposal of old aircraft to provision of new aircraft for its airline customer. The Group’s new lease agreements with CEA demonstrate the continued trust from our long-term customers, as well as our stable and extended partnerships. To meet the growing demand of the commercial aircraft leasing market, the Group will continue our fleet expansion and strengthen our cooperation with renowned domestic and overseas airlines. Our target is to ultimately grow CALC’s fleet size to 168 aircraft by 2022. CALC will also strive to provide airline customers with more innovative, flexible and value-added full value-chain aircraft solutions, while developing CALC into an international aircraft lessor and asset manager so as to realise its vision to expand globally from China.” 

“The six new A320 aircraft will adopt CEA’s latest configuration - iridium wireless communication system and a head-up display system to enhance flight safety, as well as Sharklet wingtips to reduce fuel costs. The cabin will be equipped with Recaro seats and Panasonic inflight entertainment system to prompt CEA passengers a more comfortable experience. Not only does this project show the professionalism and efficiency of CEA team, it also reflects the seamless cooperation between both teams. In addition, being able to schedule the delivery of six Airbus A320 aircraft within just 1.5 year demonstrates the Group’s quick and flexible delivery capacity as supported by its close relationship with aircraft manufacturer Airbus.” Mr. Jerry DUAN, Senior Vice President - Technical and Asset Management of CALC added.