News
CALC’s ARI absorbs UAM, buys B737s for parts
March 24th 2017
Aircraft Recycling International (ARI), part of China Aircraft Leasing Group (CALC), this week purchased Tennessee-based aviation services provider Universal Asset Management (UAM). Read More »
UAM has almost three decades of commercial and technical experience managing aviation assets, disassembling aircraft and supplying after-market components to the commercial aviation industry. UAM has disassembled more than 300 aircraft in its lifetime.
Christina Ng, deputy CEO and COO of ARI, has been appointed as chairwoman of UAM, while Keri Wright and Shawn Kling will continue to lead UAM's operations as CEO and president, respectively. UAM will retain its brand name and management team.
Last week, ARI purchased six 16-18-year-old B737-700s for disassembly and spare parts sale from Xiamen Air. This was ARI’s first such acquisition. At press time, CALC reported a 67.9% increase in profit for the 2016 year, to HK$638.4 million (US$82.5 million).
