Press Release




CALC made Novation Arrangement with DAE

Hong Kong, 14 August 2023 - China Aircraft Leasing Group Holdings Limited ("CALC" or the “Company”, together with its subsidiaries, the “Group”, HKSE stock code: 01848), a full value chain aircraft solutions provider for aviation industry announces today that it (through its wholly-owned subsidiaries) has entered into a Novation Agreement with DAE Aviation Group Ltd (“DAE”) pursuant to which the Group's commitment to purchase a 64 aircraft portfolio from The Boeing Company (“Boeing”) is novated to DAE (the “Novation Arrangement”). To facilitate and as part of the Novation Arrangement, a wholly-owned subsidiary has entered into a sale and purchase agreement with DAE to transfer the interest in 12 special purpose vehicles with no assets at nominal value.


The transaction is in the ordinary course of the Group’s business and represents a significant move in its fleet portfolio that provides flexibility to the Group’s strategy in response to the evolving aviation industry dynamics so as to achieve long-term sustainable growth.


Riding on a long-standing and close-knit relationship with Boeing, CALC remains active in Boeing’s products and would continue to join hands with Boeing in exploring various market opportunities in the future, including wide-body aircraft. As of 31 December 2022, CALC had 27 Boeing aircraft in its owned and managed fleet. In 1H 2023, CALC has completed its first 737-800NG cargo conversion project. This June, CALC has taken its first delivery of B737-8MAX from Boeing, and expects to take another one in 2H2023.

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China Aircraft Leasing Group Holdings Limited

Corporate Communications Department