CALC signs SLB agreement with China Southern Airlines for 10 737s

China Aircraft Leasing Group (CALC) has entered into a sale-and-leaseback agreement with China Southern Airlines (CSA) for 10 Boeing 737-700 aircraft. The aircraft are scheduled to be delivered no later than end of June. CALC won a bid for two Boeing portfolios consisting of 10 old B737-700 aircraft aged 10-18 years from CSA via Shanghai United Assets and Equity Exchange through an open bidding process. These aircraft will be transfer to the Group’s associate China Aviation Aftermarket (CAAM) upon end of the leases. This is another cooperation between CALC and CSA after an earlier transaction for two old-age A330 aircraft