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China Aviation Industry Newsletter 13 November

China Aviation Industry Newsletter 13 November

BOC Aviation And Qatar Airways Enter Into Puchase-and-Leaseback Agreement For Three Boeing 777-300ER Aircraft

BOC Aviation announced 10 November that it has signed a purchase-and-leaseback agreement with Qatar Airways for three Boeing 777-300ER aircraft, currently in operation with the airline. “We are delighted to once more be supporting Qatar Airways’ fleet development plans, building on a long-term relationship that dates back to 1999, and adding popular, in-demand aircraft on long-term leases to our portfolio,” said Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation. “This incremental capital expenditure is in line with our current strategy of growing our fleet through disciplined investment.”

Boeing, Air China Celebrate Delivery of China’s First 737 MAX 8

Boeing and Air China 3 November celebrated the delivery of the airline’s first 737 MAX 8. China’s national flag carrier is the first airline in the country to receive the 737 MAX. Customers throughout China will take delivery of nearly 100 737 MAXs by the end of next year. “Air China has been a longstanding valued customer for decades,” said Rick Anderson, vice president of Sales, Northeast Asia, Boeing Commercial Airplanes. “This delivery marks another significant milestone in our enduring partnership. We are confident that the 737 MAX 8 will play a key role in Air China’s continued growth.”

Boeing and China Aviation Suppliers Holding Company sign agreement for 300 aircraft

Boeing and China Aviation Suppliers Holding Company (CASC) signed an agreement for 300 aircraft, including orders and commitments for 300 Boeing single aisle and twin aisle airplanes. The airplanes are valued at more than USD37 billion at list prices. Boeing and China noted that they “continue to work on mutually beneficial ways to grow and support the aviation market”, with efforts including industrial cooperation, the development of technologies to reduce aviation’s environmental impact and enhance sustainability, and continued cooperation to support the safety, efficiency and capacity of China’s air transport system.

Boeing, CDB Aviation finalize order for 52 737 MAXs and eight 787 Dreamliners

Boeing and CDB Aviation finalized an order for 42 737 MAX 8s, 10 737 MAX 10s and eight 787-9 Dreamliners. The order, valued at $7.4 billion at current list prices, was announced as a Memorandum of Understanding (MOU) at the 2017 Paris Air Show. The order includes a conversion of six 737 MAX 8 orders, to the 737 MAX 10.CDB Aviation, one of the largest and most influential Chinese-owned aviation leasing companies, is part of the launch customer group for the 737 MAX 10, the newest member of Boeing’s 737 MAX family. “The 737 MAX and the 787 Dreamliner are some of the most advanced, most fuel-efficient airplanes in the world today,” said CDB Aviation President and Chief Executive Officer Peter Chang. “We’re confident that the reliability, efficiency and superior economics of the MAX and Dreamliner families will be very appealing to our customers.”

 CALC wins Bloomberg Businessweek “Listed Enterprises of the Year” and “Listed Company Award of Excellence”

China Aircraft Leasing Group Holdings Limited announced that the Group was named “Listed Enterprises of the Year 2017” by Bloomberg Businessweek and “Listed Company Award of Excellence 2017” for the second consecutive year by the Hong Kong Economic Journal in recognition of its robust operating results and sound corporate governance.

China Aircraft Leasing closes first unsecured syndicated loan

China Aircraft Leasing Group (CALC) announced on 1st November the closing of its first unsecured syndicated loan, which does not limit the usage of proceeds to certain designated aircraft. This enables flexible delivery schedules for clients when the group plan to purchase aircraft from various manufacturers.

ICBC Leasing Places $1.1 Billion Order for CFM LEAP-1B Engines

U.S. President Trump and China President Xi Jinping signed an agreement between ICBC Financial Leasing Co., Ltd, a subsidiary of Industrial and Commercial Bank of China (ICBC), and CFM International for the purchase of 80 LEAP-1B engines to power 40 Boeing 737 MAX aircraft. Yi Huiman, chairman of ICBC and John Rice, vice chairman of CFM parent company GE, signed the agreement. The engine order is valued at nearly $1.1 billion U.S. at list price and ICBC Leasing is scheduled to begin taking delivery in 2018. The airplanes were prerviously announced as part of a Chinese block buy.

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