CALC strengthens aircraft disassembly project

China Aircraft Leasing Group (CALC) has entered into a series of transactions in order to restructure its investment in the establishment of aircraft disassembly centre in Harbin, the PRC (the CADC Project). The share interest of the Group in the CADC Project via Aircraft Recycling International (ARI) will be diluted from 100% to 48%, subject to the independent shareholders’ approval for the proposed restructure. The CADC Project had an aggregate asset value of approximately HK$224 million as at 31 March 2016. The disposal consideration will be consisted of the land, construction cost and its valuation assessed by an independent valuer