China Aircraft Leasing Group Holdings (CALC) signed a strategic cooperation agreement with China Construction Bank Shanghai Branch on June 29, 2015 to “further strengthen business cooperation and enhance a long-term and stable strategic partnership of both parties, achieving mutually beneficial development”.
According to the agreement, China Construction Bank Shanghai Branch agreed to provide 4.4 billion yuan (or equivalent in foreign currency) of intent credit line to CALC. Scope of this credit line of intent include but not limited to fixed asset loans, commercial transferred loans, trade financing, M&A loans, acceptance notes and discount notes, non-financial and financial guarantees. The agreement opens up further financing channel for CALC in support of its domestic and overseas business development with solid financial backup.
Under the agreement, China Construction Bank Shanghai Branch shall provide CALC with a full range of financial services on favorable terms to CALC to support its business development. On the other hand, CALC shall regard China Construction Bank Shanghai Branch as one of the key financing banks, and give preference in their financing products and services.
China Construction Bank Shanghai Branch expressed, "China Construction Bank Shanghai Branch will continue the cooperation with CALC. We will work hand-in-hand with CALC, leveraging their expertise in aviation financing as well as its competitive advantages with Shanghai Free-Trade Zone, to serve the rapid-growing aviation industry in China."
Barry Mok, CFO of CALC, said, "We express our gratitude to China Construction Bank Shanghai Branch for their strategic support to CALC, as well as their confirmed recognition to our current business model and our future prospect. We are honour to deepening the cooperation with China Construction Bank for mutually beneficial achievements."
There are a series of stories being reported about CALC in various media, rather than repeat those here, Airline Economics will feature an exclusive interview with CALC executives in its forthcoming issue. Don't miss your copy and subscribe today - click here to subscribe or email Victoria who can sign you up immediately.
