China Aircraft Leasing Group (CALC), a Chinese operating aircraft lessor, has signed a memorandum of understanding with the administrative committee of Tianjin Dongjiang Free Trade Zone today, to deepen its cooperation in Tianjin Dongjiang Free Trade Zone (DFTZ).
The memorandum marks an extending cooperation between both parties, allowing CALC to leverage the competitive advantages of DFTZ in the favourable policy environment and industry resources, and promote the steady development of its aircraft leasing business and structure innovation. Zhang Aiguo, Director of Administrative Committee of DTFZ and Winnie Liu, Executive Director and Executive Vice President of CALC attended the signing ceremony held at the Four Seasons Hotel in Hong Kong.
According to the memorandum, CALC will continue to expand its business scale in DFTZ, including by delivering an estimated total of 40 aircraft to its domestic and overseas airlines customers via the DFTZ platform between 2015 and 2018. The signing of the memorandum not only demonstrates the government’s recognition of CALC’s effort and achievement in advancing the aircraft leasing industry in China, it also shows the government’s strong support in CALC’s future development.
Through the Tianjin DFTZ platform, the two parties will deepen and strengthen their cooperation in the research and development of innovative business model of aircraft leasing industry in the domestic market; implement the national "One Belt One Road" policy; and accelerate the internaionalisation of China’s aircraft leasing industry, aiming to develop DTFZ into an aircraft leasing center in China as well as the Asia-Pacific region.
In addition, Tianjin DFTZ will actively consider views and recommendations put forward by CALC, and assist in the implementation of relevant policies in order to promote the deepening reform and innovation of services and continue to provide CALC with stable and efficient government services.
In December 2010, CALC established China Asset Leasing Company Limited (CALC Tianjin) in DTFZ, the first foreign-owned aircraft leasing company which set up its subsidiary in the area. To date, CALC Tianjin has already set up 69 SPVs in DFTZ and has successfully delivered 43 aircraft to domestic airlines via the platform.