SMBC Aviation Capital and Ruili Airlines sign B737 Letter of Intent

June 1st 2018

Print Friendly

SMBC Aviation Capital and Chinese carrier, Ruili Airlines, have signed a Letter of Intent for placement of two B737MAX 8 aircraft, the first commitment the carrier has negotiated with an aircraft lessor outside China. Read More »

The four-year-old full service airline is headquartered in Kunming. It operates to Chiang Mai and Chiang Rai in Thailand and Sihanoukville in Cambodia as well as serving Chinese domestic routes. The aircraft under placement will be powered by CFM LEAP-1B engines. Ruili Airlines already has 16 B737s in its fleet.

Ruili Airlines is owned by Yunnan Jingcheng Group Ltd. Group chairman, Dong Le Cheng, said at the signing ceremony: “We are pleased to partner with SMBC Aviation Capital, our first aircraft leasing relationship outside China. We are looking to considerably in the coming years. These new aircraft will help achieve our target of adding 40 aircraft to our fleet by 2021.”

SMBC Aviation Capital CEO, Peter Barrett said: “We look forward to building on our new relationship with Ruili Airlines with the placement of these two aircraft. China is a fast growing market that is seeing increased demand for high quality aircraft that offer the latest technology. This deal allows us to extend our presence in the region.”