Hong Kong and Memphis, Tennessee (April 11, 2022) – Universal Asset Management, Inc. (UAM), the aftermarket platform of China Aircraft Leasing Group Holdings Limited ("CALC", HKSE stock code: 01848.HK) specializing in aircraft disassembly, third party logistics and component sales, is pleased to announce that it is the first organization to have achieved Diamond status (the highest level) in the voluntary KPI (Key Performance Indicator) recognition program which Aircraft Fleet Recycling Association (AFRA) recently added to its Best Management Practices (BMP).

UAM obtained its first BMP certification by AFRA in May 2007 and has maintained the qualification since then in a high standard, which is attributable to UAM’s singular expertise and professionalism in aircraft disassembly and recycling. The newly granted Diamond status adds to AFRA’s testimonial for UAM’s quality aftermarket and End-of-Life solutions in an environmentally sustainable manner.

Mr. Mike Poon, CEO of CALC, said, “CALC and all its members constantly explore pioneering ways to advance our green fleet upgrade solutions. Achieving the Diamond Status of AFRA KPI Recognition Program is another remarkable development of our aftermarket services, thanks to the innovation and perseverance of our dedicated team. With auditable standards and guidance of aircraft disassembly and recycling, we are united with the industry in continuing our efforts in developing a low-carbon circular economy and promoting sustainable development for the global aviation industry.”

Mr. Richard Spaulding, President of UAM added, “UAM strives to exploit the latest technology with emphasis on its know-how on disassembly and asset management by utilizing processes built for the best returns for our customers and efficiency. Based on the AFRA’s voluntary KPI program, UAM and our stakeholders would now have a clear expectation of total number of parts intended to be returned to the market, manage the total waste removed from the aircraft, and hence offer a maximum return from the aircraft while providing maximum environmental solutions to the society.”

The new KPI recognition program represents the most up-to-date collection of recommendations concerning best practices for the management of parts that are removed from an aircraft, engine, or other asset during the disassembly at the end of its service life. AFRA recognize the accreditations on four levels:

UAM has achieved the Diamond status by:

•          Number of parts reused - Total number of parts intended to be returned to the market consisting of parts intended to be sold as AR and parts intended to be sent to repair stations to be overhauled, repaired, etc.

•          Total hazardous waste - Total mass of hazardous waste (fuel, hydraulic fluid/oil and lavatory waste) shown as a combined total in pounds removed from the aircraft during our quarantine process

•          Reusability rate - Percentage of parts intended to be returned to the market consisting of parts intended to be sold as AR and parts intended to be sent to repair stations from the total number of possible rotable derived from the aircraft IPC FIN list, OC CM/HT list and/or Aircraft Fit List

•          Energy Recoverability - UAM uses vetted and approved vendors for the handling and disposal of hazardous fluids.  Our vendors convert 100% of total mass received by UAM to useable energy by fuel blending.