China Everbright becomes a shareholder in China Aircraft Leasing

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China Everbright Aerospace Holdings, a wholly owned subsidiary of China Everbright, acquired two tranches of shares of Hong Kong-based China Aircraft Leasing (CALC), totaling 40% of the lessor's capital.

CALC, which was founded in 2006 and focuses exclusively on the Chinese market, says it is also in the process of bringing in another state-owned enterprise as a shareholder. This is expected to be completed in the third quarter.

The lessor tells CAO it expects to grow the fleet to 100 units during the next three years from it current portfolio of 12 aircraft.

Poon Ho Man, founder and CEO of CALC, says: "We are excited to partner with China Everbright. Its participation allows CALC to expand and meet the evolving needs of our clients."

China Everbright is a diversified financial conglomerate operating in both Hong Kong and China. It is listed on the Hong Kong stock exchange and has total assets of around $4 billion.