China Aircraft Leasing (CALC) orders 50 Boeing 737 MAX aircraft

Chine Aircraft Leasing (CALC) has entered into an aircraft purchase agreement with Boeing for 50 new 737 MAX series aircraft, with a list price of US$5.8bn. The aircraft are scheduled for delivery in stages up to 2023. CALC has explored a variety of financing channels to ensure flexibility for its global expansion. In addition to its long-standing relationship with Chinese and international banks, CALC has been an active player in the bond market, having issued three batches of senior unsecured bonds in the aggregate amount of US$1.1bn over the past 18 months. The Group has also made disposal of finance lease receivables a recurrent business, enabling it to efficiently utilize equity and debt financing arrangement. The Group currently owns a fleet of 87 aircraft. With this new order, CALC’s outstanding order book now consists of 139 aircraft (89 Airbus and 50 Boeing), putting the company on track to deliver a total of no less than 226 aircraft by 2023.