News
CALC posts bumper 2015 profit, competition underway
March 24th 2016
China Aircraft Leasing Group (CALC) on Tuesday announced a 2015 net profit increase of 25.6%, to HK$380.2 million. Read More » During year, the Group’s revenues, comprising lease income, gains from realised lease receivables and government subsidies, amounted to HK$1,549.3 million (US$199.8 million), a 35.3% year-on-year increase. CALC’s board has declared a total dividend of HK$0.22 per share for the year.
“CALC has experienced another year of healthy and rapid growth in 2015,” said Chen Shuang, the lessor’s chairman, CEO and executive director. “We have successfully established a presence in Europe and Southeast Asia to realise our globalisation strategy. We also are consolidating CALC’s unique positioning as a full value-chain aircraft solutions provider with the establishment of the first aircraft disassembly centre in China. During the year, we have also broadened our financing channels in Hong Kong, Mainland China, as well as in the global market to support our fast-developing business. In particular, we have stepped up our efforts for lease receivables realisation.”
CALC delivered 19 aircraft in 2015, increasing its fleet size to 63 at year-end. Of the 19 deliveries, five A320s were supplied to its first non-Chinese customer, Air India, and two to Air Macau. The Hong Kong-based firm entered into Letter of Intents with Turkey’s Pegasus and Vietnam’s Jetstar Pacific last year. Given its order book, CALC’s fleet is set to increase to 172 aircraft by 2022.
Meanwhile, competition in the Hong Kong lessor market is intensifying. Three of the Mainland’s largest leasing companies have plans to list in Hong Kong in the near future. BOC Aviation aims to raise $1 billion to $1.5 billion from an IPO in 2015, while China Development Bank Financial Leasing is preparing for a $1 billion IPO, which is likely to be completed during the first half of this year. Minsheng Financial Leasing plans to go public in both Hong Kong and Shanghai by 2018, according to its website.
