China’s Bank of Communications has proposed to raise the capital of its wholly-owned aviation and shipping leasing unit by CNY7 billion ($1.11 billion).

Subject to regulatory approvals, the bank will increase the capital of BoCom Aviation and Shipping Financial Leasing to CNY8.5 billion using internal funds.

The additional capital will allow the unit to increase its international operations, and provide a specialised focus as part of the wider BoCom Leasing entity.

The bank adds in a stock exchange statement that the unit is “focal point for BOCOM Leasing to promote the transformation of its business structure and to enhance the proportion of operating leases”.

BoCom Leasing also owns Dublin-based platform JY Aviation Leasing, which houses most of the aircraft leased to foreign carriers.

Flight Fleets Analyzer shows that BoCom Leasing has a portfolio of 164 Boeing, Airbus and Embraer aircraft.

Source: Cirium Dashboard