16 May 2022
China Aviation Industry Newsletter 16 May
CALC deepens cooperation with Air China Transferred 5 old-age aircraft to CAAM for disposal
China Aircraft Leasing Group announced that China Aviation Aftermarket Holdings Limited an associate company of the Group, and Air China have entered into cooperation on five aircraft. Based on the long-term cooperation between CALC and Air China in aircraft leasing businesses, the scope of cooperation has further expanded to disposals of old-age aircraft and fleet optimization, consolidating the long-term close partnership between the two parties.
CDB Aviation Signs Facility Agreement for $530 Million Unsecured Syndicated Term Loan
CDB Aviation announced the signing of a $530 million unsecured syndicated term loan with BNP Paribas and a group of leading global financial institutions. The proceeds will fund new capital expenditure, debt refinancing, general corporate, and working capital. CDB Aviation CEO Patrick Hannigan stated “Our capital raising campaigns continue to attract increasingly strong interest from a diverse lender base from across the world. The successful outcome of these initiatives is a testament to our team’s exceptional ability to manage all commercial, legal, and finance aspects of such complex transactions.”
China-developed helicopter completes flight test
The Aviation Industry Corporation of China (AVIC) announced AC352 mid-sized utility helicopter has completed the flight test phase of the airworthiness certification process. The AC352 helicopter's flight test included 87 block modules, including take-off and landing, level flight, climb performance, as well as stability and low-speed operation, among others, as required by the civil aviation authorities (CAAC) to verify the new helicopter flight envelope.
China Eastern Airlines to raise up to $2.2 Billion
In a filing to the Shanghai stock exchange China Eastern Airlines Corp plans to raise up to 15 billion yuan ($2.23 billion) in a share sale to expand its fleet and to replenish working capital. The proceeds from the share sale to fund the purchase of 38 aircraft which are expected to be delivered between 2022 and 2024 at a list price of $4.38 billion.
First COMAC C919 aircraft to be delivered to China Eastern Airlines
The Commercial Aircraft Corp of China (COMAC) completed the first test flight at the weekend of the first domestically produced C919 aircraft that is set to be delivered. COMAC said that the test flight completed the scheduled tasks and the aircraft performed well and was in good condition, according to its official website with final pre-delivery work in progress prior to handover to China Eastern Airlines.
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