CALC expands portfolio and managed aircraft fleet to 364 as of 1H2019

China Aircraft Leasing Group (CALC) reported (27-Aug-2019) the following portfolio and operational highlights for 1H2019:

• Delivered five new aircraft to airlines and took redelivery of an "aged" aircraft, subsequently sold to CALC associate company Aircraft Recycling International (ARI);
• At the end of the period, CALC had 115 owned aircraft, with 227 aircraft in its order book to be delivered by 2023. Managed aircraft totalled 137, an increase of 19.1% year-on-year;
• Sold four aircraft to China Aircraft Global Limited (CAG), increasing the total number of aircraft CALC manages for CAG to 22;
• Portfolio split of 68% of aircraft with mainland Chinese airlines and 32% with non-Chinese carriers. Customer base of 33 airlines in 15 countries and regions;
• Signed LoIs for the sale of a portfolio of six aircraft with three investors. Transactions are expected to be completed within 2019;
• Average fleet age of 4.1 years;
• Average of remaining lease terms of approximately 7.8 years;
• Lease utilisation rate of 99%;
• Disassembly of 15 aircraft via ARI;
• ARI obtained a CCAR 145 maintenance permit from Civil Aviation Administration of China for the line maintenance of the Boeing 737NG and A320 models, via its MRO JV. Operations are expected to commence in 2019. [more - original PR]