News
China Aircraft Leasing forewarns of large losses for fiscal year
March 2nd 2021
China Aircraft Leasing Group Holdings Ltd (CALC) said yesterday consolidated profit for calendar 2020 was expected to fall 60%-65% from a year earlier. Read More » "The year of 2020 has been the most challenging year the group has faced since its establishment," CALC said in a regulatory filing to the Stock Exchange of Hong Kong. Total revenue and operational profit for the 12 months had been maintained at a similar level to 2019 and the cash balance slightly increased for the 12 months. However, CALC had recorded its share of losses from its investment in Aviation Synergy Ltd and also losses from exchange rate movements between the Chinese yuan and U.S. dollar. The company reported a HK$896 million (US$115 million) profit in calendar 2019.
