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CALC to purchase 50 new Boeing 737 MAX aircraft

The Group currently owns a fleet of 87 aircraft. With this new order, CALC’s outstanding order book now consists of 139 aircraft (89 Airbus and 50 Boeing), putting the company on track to deliver a total of no less than 226 aircraft by 2023.

HONG KONG – CALC, a full value-chain aircraft solutions provider for global airlines, has entered into an aircraft purchase agreement with Boeing for 50 new 737 MAX series aircraft, with a list price of US$5.8 billion. The aircraft are scheduled for delivery in stages up to 2023.

“We are delighted to announce this new engagement with Boeing. This large order of one of the newest and most popular aircraft will support the acceleration of CALC’s business expansion,” said Mike Poon, Chief Executive Officer of CALC.

“Over the past decade, CALC has grown from being a market leader in China’s aircraft leasing industry to becoming one of the most important players in the global aviation market, and we are proud of the progress made to enhance and significantly sharpen our financing and placing capabilities. CALC now has a strong team in place that is looking to capture global opportunities, and we are actively expanding and diversifying our fleet portfolio to meet the varying needs of airlines customers in this dynamic market. Our strong order book is a valuable asset that is supporting our global expansion strategy, and we will continue to strengthen our future delivery pipeline in collaboration with aircraft manufacturers, among other aviation partners.”

CALC has explored a variety of financing channels to ensure flexibility for its global expansion. In addition to its long-standing relationship with Chinese and international banks, CALC has been an active player in the bond market, having issued three batches of senior unsecured bonds in the aggregate amount of US$1.1 billion over the past 18 months. The Group has also made disposal of finance lease receivables a recurrent business, enabling it to efficiently utilize equity and debt financing arrangement.

The Group currently owns a fleet of 87 aircraft. With this new order, CALC’s outstanding order book now consists of 139 aircraft (89 Airbus and 50 Boeing), putting the company on track to deliver a total of no less than 226 aircraft by 2023.

The Boeing 737 MAX sets new standards in terms of fuel efficiency and performance, and has increased the series’ range by 19% to over 3,500 nautical miles. The 737 MAX is the fastest-selling aircraft in Boeing’s history with a total of 3,699 orders to date.

CALC Acquires Two Aircraft from BOC Aviation
Also, CALC announced that it has acquired two used Boeing B737-900ER aircraft with lease attached from BOC Aviation Limited. The two aircraft are estimated to deliver to the Group in the second quarter of 2017.

Portfolio trading is an extension of CALC’s current businesses, through which the Group acquires aircraft together with lease to certain airline. It also represents another aircraft source in addition to new order books with manufacturers, secondary markets, and sales and leasebacks.

Mr. Mike Poon said, “We believe that portfolio trading will not only accelerate our expansion and diversification of fleet portfolio, but will also grow our customer base as part of our globalisation strategy. Portfolio trading will enhance the Group’s sourcing flexibility, which is an important tool for the Group to optimise its asset value through active fleet management going forward.”

CALC currently owns a fleet of 87 aircraft and expects to deliver a total of no less than 226 aircraft by 2023 based on firmed order.

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Tatiana is the news co-ordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy. She holds a Bachelor degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.

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