News
Yunnan Hongtu Airlines to double fleet
April 13th 2018
Chinese full-service carrier, Yunnan Hongtu Airlines, this week signed an agreement with Hong Kong-based China Aircraft Leasing Company (CALC) for a 12 year A320ceo lease. Read More » Hongtu Airlines is a new CALC customer. The aircraft will be delivered to the Kunming-headquartered carrier before July, CALC said. Hongtu has the right to purchase the jet from CALC (through its wholly-owned special purpose vehicle) any time after the sixth year.
Hongtu is looking to double its fleet this year. The airline has an A320ceo (ex LATAM) and two A321ceo (ex UTair) operating domestic routes. Last December, it leased two A320ceo from Dubai Aerospace Enterprise (DAE) order book with Airbus. These two jets are due at Hongtu this year, deliveries that will double the airline’s fleet to six Airbus aircraft by year-end.
Hongtu launched operations in May 2016, initially as a budget airline. It adopted the full-service model last year, after it introduced online travel agency Tongcheng Tourism Group as a strategic investor in an effort to enhance its competitiveness.
The airline is a joint venture between Kunming Evergreen Financing (30%); local entrepreneur Tang Longcheng (20%); and five other companies that hold 10% each of the business. The parties have invested CNY600 million (US$97 million) in the carrier.
Hongtu flies to 10 domestic destinations from its Kunming base, including flights to Nanchang, Hohhot, Nanjing, Changchun and Lanzhou. One of the A321s has been refitted with a domestic first (business class) cabin, the airline said.
