CALC and Jetstar Pacific sign agreement to lease two A320s

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By admin November 5, 2015 17:56

CALC and Jetstar Pacific sign agreement to lease two A320s

China Aircraft Leasing Group (CALC) has reached a tentative agreement with Jetstar Pacific Airlines for the lease of two A320 aircraft. The two Airbus aircraft will be delivered in July and August 2016. Jetstar Pacific is CALC’s first customer in Southeast Asia, marking a significant milestone for the Group’s international expansion.

“Vietnam’s aviation market is forecast to be the world’s 7th fastest-growing by 2017 according IATA while the World Bank Group data showed that air passengers carried in Vietnam grew by over 120% between 2009 and 2014. We are very proud to partner with Jetstar Pacific and to provide them with our new Airbus A320 aircraft to support their fleet expansion program,” Jens Dunker, Senior Vice President – Aircraft Trading and Global Marketing of CALC said, “CALC and Jetstar Pacific share the same goal to differentiate ourselves in the dynamic and competitive international aviation market. We are confident that the lease arrangement will enhance the carrier’s operating flexibility and capital management efficiency.”

The operating lease arrangement is part of Jetstar Pacific’s fleet expansion program. It is implementing a dual-brand strategy with its parent company, Vietnam Airlines, in expanding its domestic and regional network. The combined market share of Jetstar Pacific and Vietnam Airlines in the home market is nearly 70%.

Launched in May 2008, Jetstar Pacific is the first low cost airline in Vietnam. Vietnam Airlines, the flag carrier of the country owns a 70% stake in Jetstar Pacific, while the Qantas Group is holding a 30% stake. It is part of the Jetstar Group. Jetstar Pacific’s current fleet consists of 9 A320 and 2 A321 aircraft.

admin
By admin November 5, 2015 17:56