CALC sees strong 1H growth on global, fleet expansion

China Aircraft Leasing Group (CALC) reported strong revenue growth in the 2017 first half as the company continues to expand and diversify globally.

In the 1H, CALC posted a net profit of HK$248.7 million ($32 million), up 3.6% from 1H 2016. Revenue for the half-year was up 22.5% to HK$1.26 billion.

CALC chairman Chen Shuang said the 1H performance “demonstrated its strong growth momentum. With its successful execution of its globalization strategy and fleet expansion plan, together with the continued expansion and diversification of its clientele, CALC is working toward being a full value-chain aircraft solutions provider for global airlines. We are well positioned to capture significant opportunities globally.”

As of June 30, CALC had 90 aircraft and delivered nine aircraft to new customers.

In June, the Hong Kong-based lessor placed its first purchase order with Boeing for 50 737 MAX aircraft, scheduled for delivery in stages up to 2023. In addition, the company has 138 narrowbodies on order.

CEO Mike Poon said the group “achieved a significant step forward by adding the Boeing 737 MAX series aircraft into our fleet for the near-term future. Our track record of effective marketing and efficient placements showcases our capability to provide full life-cycle aircraft solutions as a means to enlarge our international client base globally in the dynamic market, generating added-value for our customers and shareholders.”

Looking forward, the group expects to deliver 20 aircraft in the 2H and expand its fleet to around 110 aircraft by the end of the year.