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Aviation

CAAM acquires A320 Airframes from LATAM for disassembly in Tupelo

Author: Theodore Koumelis / Date: Thu, 07/07/2022 - 06:28
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CAAM will transfer the six airframes to Universal Asset Management, Inc.

Hong Kong and Memphis, Tennessee – Global aviation industry full 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) announced that its associate company, China Aviation Aftermarket Holdings Limited (“CAAM”), has purchased six A320 airframes from LATAM Airlines Group S.A. (“LATAM”). The airframes, which are scheduled to be delivered in stages between June 2022 and the first quarter of 2023, will be ferried to the Group’s aircraft recycling facilities in Tupelo, MS in the United States for disassembly. This transaction marks CALC’s first collaboration with LATAM, riding on both parties’ commitment in driving aviation sustainability. It also highlights the value which CALC’s full value chain solutions is delivering to its partners and the aviation industry as a whole.  
 
CAAM will transfer the six airframes to Universal Asset Management, Inc. (UAM), the Group’s aftermarket platform specializing in aircraft disassembly, third-party logistics and component sales, for disassembly. As the first organization accredited Diamond status in the voluntary KPI recognition program by Aircraft Fleet Recycling Association (AFRA), UAM will match industry-leading benchmarks in this disassembly project, implementing the Group’s ESG strategies in full depths with its longstanding eco-friendly practices and outstanding recycling capabilities.   
 
Mr. Luis Ayala, Chief Development Officer of CALC, said, “We are pleased to have LATAM as our aircraft recycling partner, sharing our same vision on environment sustainability and strong commitment to achieving ESG goals. This showcases our commitment towards aviation sustainability, amongst which is the provision of environmentally sustainable aftermarket and end-of-life solutions. Leveraging our strong order book of fuel-efficient aircraft, CALC is well-positioned to contributing to a greener industry via our ESG fleet upgrade solutions.” 
 

Mr. Juan José Tohá, Director of Corporate Affairs and Sustainability, LATAM Airlines Group said, “We have designed LATAM’s fleet renovation program to take into account the complete lifecycle of our aircraft. Through agreements with key industry actors such as CAAM, we are able to work towards this goal and uphold our environmental commitments” 
 
Mr. Richard Spaulding, President of UAM added, “As an expert in aircraft disassembly, UAM has completed hundreds of disassembly projects by deploying our industry-leading disassembly and component receiving procedures under the guidance of AFRA. As part of our social and environment sustainability pursuits, we aspire to partner with more industry participants and introduce to the industry more green solutions, striving to achieve net zero carbon emission goals by 2050. ” 

ABOUT THE AUTHOR

Theodore Koumelis

Co-Founder & Managing Director

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.