Global aviation full industry value chain solutions provider China Aircraft Leasing Group Holdings Limited ("CALC" or the "Company", together with its subsidiaries collectively referred to as the "Group"; HKEx stock code: 01848,HK) is pleased to announce that China Aviation Aftermarket Holdings Limited (“CAAM”), an associate company of the Group, and Air China Co., Ltd. (“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. It also strengthens the Group’s asset management capabilities of middle- and old-age aircraft for its aftermarket platforms and provides a solid foundation to explore solutions for the old-age fleet.

CAAM has recently reached a cooperation with Air China on five aircraft aged about 20 years on average at China Beijing Equity Exchange through a “Bid invitation, Auction or Listing” process. The first aircraft was delivered on 23 April to CAAM’s Harbin aircraft recycling base. Amid the pandemic, the CAAM team worked closely with Air China to ensure a smooth delivery, ensured aircraft technical inspection, ferry flight arrangement completed on time. To date, CAAM has completed assessments of this aircraft batch and developed a disposal plan. Leveraging its professional one-stop solutions capability for middle- and old-age aircraft, the team will exploit through disassembly, freighter conversion and other solutions to utilize the residual value of the aircraft assets.

Mr. Mike Poon, CEO of CALC, said: "Since CALC delivered an A330 aircraft to Air China for the first time in 2012, we have established a partnership for a decade. I would like to extend my sincere gratitude to Air China for their support and trust. CALC has been persistently strengthening its management capability for its aircraft full value chain solutions, deepening and exploring new cooperation directions with airline clients in the process. Over the years, we have been diving deep into development of aircraft asset management and fleet upgrade solutions, and have since established a proven track record in aircraft disposal and recycling. The cooperation with Air China not only assists in their fleet optimization but also contributes to our aftermarket businesses with a reserved aircraft source, making collaboration mutually beneficial relations.”