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25-May-2016 8:22 AM

AviaAM Leasing and Chinese HNCA to establish a USD900m Henan-based aircraft leasing JV

AviaAM Leasing and the Henan Civil Aviation Development and Investment Company (HNCA) announced (24-May-2016) they signed a JV agreement, under which they will establish a new aircraft leasing company. The Henan-based JV will build and manage a fleet of narrowbodies worth of up to USD900 million, including both mid-life (second lease period) and new build Boeing 737 NG and A320ceo aircraft. HNCA will provide access to "favourable" financing terms required for the JV's fleet development. AviaAM Leasing will provide leasing industry expertise as well as competencies for aircraft afterlife projects such as tear down and components reselling to the MRO market. AviaAM Leasing chairman and CEO Tadas Goberis said China and other thriving economies of Asia "serve as the engine of global aviation" and with " double-digit air traffic growth, local carriers will require thousands of new airplanes over the following 15-20 years". [more - original PR]

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