BOC Aviation Announces 2017 Operational Results
BOC Aviation announced 11 January its operational update for the fourth quarter and year ended 31 December 2017 and as at 31 December 2017. It’s Portfolio comprised 318 owned and managed aircraft, with an average aircraft age of 3.0 years and an average remaining lease term of 8.2 years for the owned aircraft. Robert Martin, Managing Director and Chief Executive Officer, said “2017 was another year of record operational performance. We took delivery of 74 aircraft, of which nine were new technology aircraft, including Airbus A320NEO and Airbus A350-900 aircraft, with new technology aircraft now accounting for over 90% of our orderbook. Net additions to our portfolio during the year totalled 41 aircraft, making 2017 our best year for portfolio growth since 2009. Furthermore, during the year we added 48 aircraft to our pipeline, with scheduled deliveries out to 2021, laying the foundation for future revenue growth.”
CFM Concludes $9.1 Billion U.S. Agreements During French State Visit to China
In conjunction with French President Emmanuel Macron’s state visit to China CFM International concluded agreements and Memorandums of Understanding for new engine orders and long-term support agreements covering nearly 500 CFM engines. The total value of the agreements is $9.1 billion U.S. at list price.In conjunction with French President Emmanuel Macron’s state visit to China earlier this week, CFM International concluded agreements and Memorandums of Understanding for new engine orders and long-term support agreements covering nearly 500 CFM engines. The total value of the agreements is $9.1 billion U.S. at list price
Chinese aircraft manufacturer AVIC to reconstruct Silk Road with MA60
AVIC’s officials, a Chinese aviation company revealed in a statement that the model MA60 is now used in 7 Central African countries with 14 aircrafts which provide regional links. Tan Ruisong AVIC’s said: “Aviation is a high-end industry and a key component of cooperation between countries, along the Belt and Road, to foster their connectivity and industrial cooperation” . He emphasized that AVIC, as one of the leading actors of the Chinese aviation industry, will continue to supply air services and products, as well as “air transport solutions, by developing a silk road in the sky”.
China Introduces New Transport Helicopter
The People’s Liberation Army (PLA) has introduced the Changhe Aircraft Industries Corporation Z-8G transport helicopter to active service. Previously known as the Z-18, it was reportedly redesignated the Z-8G (Gaoyuan, or “Plateau”) because it is a heavily modified version of the Harbin Z-8, the Chinese derivative of the Aérospatiale SA 321 Super Frelon. The Z-18 flew for the first time in 2014. Powered by three domestic WZ-6C turboshafts, it has a maximum takeoff weight of 13.8 tonnes (30,360 pounds). It can carry 30 troops, or five tonnes (11,000 pounds) of cargo, for up to 1,000 km (600 miles).
CALC launches China’s first dollar-denominated ABS to fund Belt Road
China Aircraft Leasing Group Holdings Limited (CALC) has launched China’s first dollar-denominated asset-backed security (ABS), bringing a new financial instrument to support the development of the Belt Road initiative.
China to relax investment in aviation industry from 19 January
CAAC announced that a new regulation relaxing state and private investment in civil aviation industry will be effective 19 January. The new regulation will allow state and private enterprises to independently or jointly make investments to drive the industry’s healthy development. Also under the regulation airlines cannot own more than a 25% stake in international and regional airports, while airports in turn cannot control more than 25% of companies involved in the sale, storage and transport of aviation fuel.
ICBC Leasing hires Norman Liu as special advisor
ICBC Leasing has appointed former GECAS chairman, president and chief executive Norman CT Liu as a senior advisor to assist with the global expansion of the lessor.
United scraps fees for second check-in bag on China and Hong Kong flights
United Airlines has scrapped fees for second check-in baggage for all classes on all routes between the US and China and Hong Kong. According to vice president of Atlantic and Pacific sales, Marcel Fuchs, the airline is “responding to valuable feedback from customers who are seeking added benefits when they travel to China and Hong Kong, particularly for leisure purposes”.
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