06 Jun 2023

China Aviation Industry Newsletter

BOC Aviation Delivers Boeing 737-8 to Eastar Jet

BOC Aviation announced delivery a Boeing 737-8 aircraft for lease to Eastar Jet powered by CFM LEAP-1B engines. BOC Aviation CEO & MD Robert Martin, said "We are pleased to participate in Eastar’s growth story and to welcome it as a new customer as we continue to provide the latest technology aircraft. Korea and Asia-Pacific are markets that are recovering their vibrancy as they enjoy renewed growth and this transaction is emblematic of the demand from customers that we are working with.”

Finnair celebrates 35 years flying to China

Finnair announced it celebrating 35 years of flying to China and connecting Asia with Europe. This major milestone for the Nordic carrier comes as it also celebrates its centenary as one of the earliest pioneers in aviation. Finnair’s first flight to China took off on 2 June 1988, with a new non-stop service to Beijing. Finnair Market Manager UK & Ireland, Anssi Partanen said "Finnair is proud to be celebrating 35 years of flying to mainland China this year – and acting as a bridge connecting Europe with Asia. Despite the turbulence of recent years, especially following the closure of Russian airspace, we have continued to serve China and enable Finnair customers to fly easily and seamlessly from Europe to key destinations in Asia. We are committed to connecting our customers with China and look forward to flying more Finnair flights to Asia in the future."

HAECO appoints Richard Sell as new CEO

HAECO Group announced the appointment of Mr. Richard Sell as its new Chief Executive Officer. He will assume the role on 1 July 2023, succeeding Mr. Frank Walschot, who will remain as an advisor to the company.

Major Chinese Credit Rating Agencies Give CALC (TJ) AAA Ratings

China Aircraft Leasing Group Holdings reported that its wholly-owned subsidiary China Asset Leasing Company Limited has received an upgrade to AAA for both its corporate credit rating and bond credit rating from China Chengxin International Credit Rating Co. Ltd., with a stable outlook, and a corporate credit rating of AAA from Dagong Global Credit Rating. This has not only demonstrated how reliable rating agencies have acknowledged the combined strengths of CALC (TJ), but it has also emphasized the company's solid fundamentals, which underpin its ongoing commercial development despite the difficult climate of the aviation industry.

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