News
Hong Kong-based CALC to acquire 50 B737 MAXs
June 23rd 2017
Hong Kong-headquartered China Aircraft Leasing Corp. (CALC) has signed a purchase agreement with Boeing for 50 B737 MAX series aircraft, including 15 MAX 10s, listed at US$5.8 billion. Read More » The order was significant for Boeing because CALC has demonstrated a clear preference for Airbus planes. CALC said the aircraft would arrive “in stages up to 2023”.
“This large order of one of the newest and most popular aircraft will support the acceleration of CALC's business expansion,” said CALC CEO, Mike Poon. “CALC has grown from being a market leader in China's aircraft leasing industry to becoming one of the most important players in the global aviation market. We are proud of the progress being made to enhance and significantly sharpen our financing and placing capabilities,” Poon said.
In addition to its long-standing relationship with Chinese and international banks, CALC has been an active player in the bond market with the issuance of three batches of senior unsecured bonds, in the aggregate amount of US$1.1 billion, in the last 18 months.
CALC owns 87 aircraft, which are mostly Airbus models. The lessor has 139 outstanding orders: 89 Airbus aircraft and the just ordered 50 Boeing MAXs. Last week, the lessor acquired two used B737-900ERs, with leases attached, from BOC Aviation. The two aircraft will be transferred before the end of June.
