CALC has unveiled a new collaboration with China Southern Air by leasing three aircraft and one airframe.
CALC won the bid for three A320 aircraft and one A320 airframe owned by CSA Leasing, which previously operated by China Southern Airlines Company.
The aircraft were sent to CALC’s aircraft recycling base in Harbin for disassembly by the Group’s MRO joint venture FL ARI Aircraft Maintenance and Engineering Company, and disassembled components will be sold to committed overseas buyers.
With an average age of 22 years, the transaction of this old aircraft portfolio also marked the first bulk retirement of the A320 series aircraft in China.
Mike Poon, Chief Executive Officer of CALC, said: “Through this collaboration, CALC and CSA Leasing has fully demonstrated their respective strengths and laid a solid foundation for furthering our partnership.”
Xu Feng, General Manager of CSA Leasing, added: “The portfolio transaction of the four aircraft has showcased a successful expedition in maximizing asset value by effective resources allocation with the joint forces of CSA Leasing and CALC, by leveraging our respective shareholder backgrounds and business expertise.
"We, at CSA Leasing, will take this deal as a starting point, and deepen our efforts in aviation asset management and in facilitating industry financing integration. We aim to establish a global renowned platform for aircraft asset management by collaborations with upstream and downstream industry participants home and aboard.”
This news follows CALC's recent announcement that it had increased its total revenue and income for 2018.