CALC Total Revenue Tops $205.4MM in H1/2018

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China Aircraft Leasing Group (CALC), a full value-chain aircraft solutions provider for global airlines, released its financial results for the first six months of 2018, ending on June 30.

Highlights from the H1 report include:

  • Total revenue and other income increased by 28.1% to HK$1.6121 billion ($205.4 million) attributable to the increase in fleet size under operating leases
  • Profit attributable to shareholders grew 23.8% to HK$307.8 million ($2.4 million)
  • The group’s fleet size increased to 115 aircraft, of which 111 are owned aircraft and four are managed
  • 31% of the fleet were leased to non-mainland China carriers, up from 28% at the end of 2017. The client portfolio included 30 airlines spread across 14 countries and regions
  • CALC had 189 aircraft in its order book, comprising 139 Airbus and 50 Boeing aircraft, which will be delivered by 2023
  • The group continued to maintain one of the youngest and most modern fleets in the industry, with an average age of 3.9 years and an average remaining lease of 8.2 years

CALC also joined up with three large-scale, state-owned enterprises as mezzanine financiers to roll out CAG, an investment vehicle for aircraft portfolio on lease to global airlines. Together with mezzanine financing and senior syndicated financing, CAG’s aircraft assets are expected to grow to around $1.2 billion. A total of 24 aircraft are expected to be injected into CAG, 18 of which are from seed portfolio, to be sold by CALC to CAG. CALC will provide aircraft and lease management services to CAG.

Chen Shuang, chairman of CALC, said, “We are pleased with CALC’s robust results in the first half of 2018 and its successful implementation of the asset-light strategy. Going forward, CALC will continue to press ahead with its globalization strategy and expand its international client base while strengthening its leading position in China. We will strive to become a top-tier global player in the international aviation industry.”

CEO of CALC Mike Poon added, “With its established infrastructure, CALC is well poised to continue its vertical and horizontal integration to amplify its competitive strengths. Looking ahead, CALC will seek to manage an enlarged and diversified aircraft portfolio powered by its asset-light business model.”

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