China Aerospace buys 8% interest in CALC

This story is sourced from

China Aerospace Investment Holdings has acquired an 8% interest in Hong Kong-based China Aircraft Leasing Holdings (CALC).

CALC, which was founded in 2006, says the equity investment will help the lessor to expand its fleet to 100 aircraft from 12 units during the next three years.

The lessor "is committed to becoming a leading leasing company in the greater China region".

The investment follows on from the purchase of 40% of the lessor's capital by China Everbright Aerospace Holdings in July 2011.

Friedmann Pacific Asset Management holds a further 48% equity interest in the lessor.

Poon Ho Man, chief executive officer of CALC, says: "The investment by CAIH will help by enriching CALC's shareholder structure, better leverage the company's dominant position as the country's largest independent aircraft leasing company, and meet the ever-changing needs of clients in China's booming aircraft leasing market."

Last month, CALC closed a sale and leaseback transaction with Air China on a new Airbus A330-200. The delivery, which took place on 24 April, is the first in a series of four A330-200 aircraft to be delivered to the carrier through 2013.