(Hong Kong, 14 May 2024) - China Aircraft Leasing Group Holdings Limited ("CALC" or the "Company", together with its subsidiaries, the "Group"; SEHK stock code: 01848), a full value chain aircraft solutions provider for the global aviation industry, is pleased to announce that the Group has successfully completed the delivery of the first of three Airbus A320CEO aircraft to South African Airways (“SAA”) in the carrier’s 90th year of operations.
The 2016-vintage A320CEO, equipped with IAE V2527-A5 engines, was part of Vietnamese airline Pacific Airlines’ fleet before being quickly redelivered to SAA.
By initiating a partnership with South Africa’s flag carrier as a new client, the delivery showcases CALC’s dedication to broadening its presence across the African continent and illustrates a globalised business, especially within the southern hemisphere.
CALC continues its steadfast commitment to maximizing asset value across aircraft full-life cycle and ensuring smooth transitions for used aircraft, leveraging its adaptability and extensive global network.
“Given the current global aircraft supply chain constraints, we celebrate this achievement of a successful business relationship with CALC as we execute SAA’s fleet plan that is aimed at a profitable business model,” said Prof. John Lamola, Interim Chief Executive Officer of South African Airways.
“We are thrilled to bolster SAA’s fleet growth by offering young A320CEO aircraft leases,” said Ms. Winnie Liu, President and Chief Commercial Officer of CALC. “Congratulations on SAA’s 90th anniversary of service this year and we anticipate further solidifying our relationship, aiming to extend our solutions to more African airlines in the coming years.”
In 2023, the Group successfully repossessed nine aircraft and quickly redelivered them to several overseas leading airlines. As of 31 March 2024, the Group had 171 owned aircraft, 27 managed aircraft and 135 aircraft on backlog.
