CALC hands COMAC its largest commercial order for new airline

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By TESTCustomwebLP TESTCustomwebLP July 12, 2016 10:51

CALC hands COMAC its largest commercial order for new airline

China Aircraft Leasing (CALC) has placed the largest order so far with Commercial Aircraft Corporation of China (COMAC) for 60 ARJ21-700 series aircraft – a confirmed order for 30 ARJ21-700s with options on a further 30 ARJ21s. At list price, this order is worth $2.3bn and is the largest scale order for ARJ21-700s.
CALC will act as an aircraft lessor to an Indonesian-based airline, which Friedmann Pacific Asset Management (FPAM) intends to invest in, by building a pure- ARJ21 fleet.
The first batch of aircraft will be delivered in the next one to two years, and the remaining aircraft of the confirmed order to be delivered in succession over the next five years. FPAM’s Indonesian airline will become the first foreign airline to operate solely a fleet of ARJ21-700 aircraft. COMAC also plans to establish all-rounded services network in Indonesia, providing technical support, on-going maintenance and customer services for the ARJ21 Aircraft.
“Friedmann Pacific, CALC and COMAC are here today to sign a cooperative framework agreement with historical significance,” said He Dongfeng, General Manager of COMAC yesterday at Farnborough air show. “It sets to create a positive and long-term impact on the aviation development in Asia Pacific and globally, and on the implementation of the nations’ Belt and Road Initiatives. Friedmann Pacific has been focusing on the aviation investment over the years, and has built up a wealth of experience and solid strength in the areas of aircraft leasing, airport investment and operations, aircraft disassembly, and airline operations. CALC is a specialist of aircraft leasing possessing an elite team and global financing capabilities. The three parties share the same industry background, belief in win-win approach and long-term vision. I believe the cooperation will be crowned with success through our joint efforts.”
Mike Poon, Chairman of FPAM noted: “All of us at Friedmann Pacific are aviation-passionate, and with our innovators’ DNA, we seek to discover and develop opportunities that will shape the future of aviation in China and beyond. We are the first-mover in a number of segments in the aviation industry, and successfully built a globalised value chain of aircraft leasing, airport investment and operation, aircraft disassembly and airline operations.”
Poon added: “The ARJ21-700 aircraft is a medium-to-short haul aircraft with the best operation efficiency in its type. Therefore, FPAM has chosen Indonesia, an island country, as the first overseas market to operate a fleet solely with ARJ21 aircraft. In the last year, the operation team and I have spent a lot of time in preparation work in Indonesia, getting ready for eventual national aircraft exports.”
The operations team of FPAM works very closely with all the counterparts in Indonesia and China, mobilises the most suitable resources available in the aviation sector on the ground, and conducts thoughtful deliberation on the marketing strategy of the ARJ21 Aircraft, with the key and ultimate objective to launch the commercial operations of ARJ21-700 aircraft in the international market.
Winnie Liu, Deputy CEO and Chief Commercial Officer of CALC, described this order as reflecting their confidence in “turning the China-made jetliners into a part of CALC’s quality aviation assets. Diversifying our fleet portfolio, meanwhile, would allow us to provide leasing solutions to airlines with more flexibility, further raising our ability in capturing the huge potential in growing regional aviation marketplace.”
“CALC is in full support of the development of the national aircraft,” she added. “In 2012, we have already ordered 20 C919 China-made aircraft from COMAC, and this agreement would further consolidate our bilateral strategic partnership. CALC has been actively pursuing overseas market opportunities, which is consistent with our strategy of sustainable development, as well as in line with the nations’ Belt and Road Initiative. Benefitting from the national policy of export financial support, combined with our existing diversified financing channels, we are able to acquire aviation assets with high potentials at relative low costs.”
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By TESTCustomwebLP TESTCustomwebLP July 12, 2016 10:51