News
China expands MRO capability
September 18th 2015
Sichuan International Aero Engine Maintenance Company plans to become Asia's largest aircraft engine maintenance provider after building a new MRO base in Chengdu, China’s World Civil Aviation Resource Net has reported. Read More » According to the project plan, the first phase is expected to be completed by the end of 2016 and will be capable of handling maintenance work on 300 engines, to be doubled to 600 in the second phase, at yet unknown date.
Aircraft Maintenance & Engineering Corporation, (Ameco Beijing), this week appointed Chai Weixi as chief executive and said it had successfully completed its integration with Air China Technics after their merger in May. Ameco Beijing remains a joint venture between Chinese flag carrier Air China and Lufthansa German Airlines, with Air China holding 75% of the shares and Lufthansa with the remainder. Ameco is carrying out A350 aircraft type training and is already licenced to service the B787 series.
Singapore-based BOC Aviation is looking to raise a minimum $500 million in Asia's first asset-backed securitisation by an aircraft lessor, tapping into growing demand for aviation assets, people familiar with the matter have told Reuters. The transaction could see BOC Aviation sell a portfolio of 24 aircraft and their associated operating leases, in return for a fee to service the planes, said the sources, who did not want to be identified before details of the deal were made public. BOC Aviation, fully-owned by Bank of China, has grown into Asia's second-largest lessor with a portfolio of 256 aircraft, valued at $12 billion, after Japanese-owned SMBC Aviation Capital. In late August, it reported a 5% rise in first-half profit, to $171 million, as revenues and assets grew 3% and 5%, respectively. BOC has 195 additional aircraft on order to 2021.
Competitor China Aircraft Leasing Group (CALC), the Mainland’s largest independent lessor holding a portfolio of 55 aircraft, on Wednesday completed the delivery of the fourth out of five A320s to Air India under 12-year operating leases. CALC is diversifying its client base and wants to increase its overseas market share. It targets a split of 50/50 overseas and domestic airlines clients by 2022.
