China Aircraft Leasing Group Holdings Limited (CALC) has revealed that revenues reached HK$1.67 billion, an increase of 3.9%, for the six months ended 30 June 2019.
CALC's profit for the period amounted to HK$312.4 million, or an increase of 1.5%.
During the period, the group delivered five new aircraft to airlines and took redelivery of an aged aircraft which was then sold to its associate company Aircraft Recycling International Limited (ARI).
As of 30 June, CALC had 115 owned aircraft, with 227 aircraft in its order book to be delivered by 2023.
During the first six months of 2019, the group sold an addition of four aircraft to China Aircraft Global Limited (CAG), an international aircraft leasing and investment platform, increasing the total number of aircraft the group managed for CAG to 22.
The fleet size including the managed aircraft grew to 137 aircraft as of 30 June 2019.
CALC has an average age of 4.1 years, with an average of remaining lease terms of approximately 7.8 years, and an occupancy rate of 99% for its lease fleet.
Of the current fleet of owned and managed aircraft, mainland Chinese airlines and non-Chinese carriers took up 68% and 32%, respectively.
CALC’s client base spanned across 33 airlines in 15 countries and regions.
CALC’s subsidiary, China Asset Leasing Company Limited, issued the group’s first corporate bond in June. With an initial size of RMB500 million, the bond’s issued scale went up to RMB1 billion as a result of oversubscription. This was the first corporate bond issued by a domestic operating aircraft lessor in the year of 2019. Both the issuer and the corporate bonds were rated AA+ by China Cheng Xin International Credit Rating Co Ltd.