China aircraft leasing market to expand to USD130bn by 2025: CAAC
CAAC Vice Minister, Wang Changshun, stated China's civil aircraft leasing market is expected to reach USD130 billion by 2025 (Xinhua, 05-Mar-2010). At the end of 2009, China had a 1,417 aircraft fleet, of which 37% (431 aircraft) were leased. In the next five years, China will need more than 700 civil aircraft, according to CAAC, with this expected to grow to a fleet of 3,000 civil aircraft by 2025, of which 60% are expected to be leased. Mr Wang added that as a capital-intensive industry, the civil aviation sector should strengthen cooperation with financial institutions. Meanwhile, Air China received a new B737-800 through financed lease from the Industrial and Commercial Bank of China on 27-Apr-2010, the first domestically leased aircraft (CAAC-News, 05-May-2010). China’s civil aviation will introduce one B737-800 and one A321 aircraft through domestic leasing shortly.