Airline News
Former China Aircraft Leasing boss resurfaces in connection with China Southern graft probe
November 13th 2015
Former China Aircraft Leasing (CALC) chief, Mike Poon Ho-man, 42, visited CALC’s local office in Hong Kong last week after going missing for six months, the South China Morning Post (SCMP) has reported. Read More »
The SCMP report said industry insiders were “intrigued by the timing of the businessman's reappearance, right after the Mainland authorities' announcement on Wednesday that China Southern Airlines chairman, Si Xianmin, was being investigated for ‘serious discipline violation’, a euphemism for corruption.” Si is the sixth, and highest-ranking official at China Southern, to be placed under investigation.Other executives arrested include former CFO, Xu Jiebo, and Liu Qian, a deputy manager in charge of operations.
China Southern was CALC’s first client when it agreed in 2007 to lease seven aircraft to the Guangzhou-based carrier.
"Poon has probably been freed after giving the authorities the information they wanted," a source with knowledge of the investigation told the SCMP. "Now that they have caught the big fish, they are letting the smaller ones out after establishing their case."
In more positive news for CALC, the lessor this week completed the delivery of the first of six-on-order A320s to China Eastern Airlines on 144-month leases. Two weeks ago, it delivered the first of four A320 Family aircraft to Air Macau, and an A321, financed by The Korea Development Bank, KDB Asia Limited, and KEB Hana Bank, marking CALC's first aircraft financed by Korean financial intuitions.
