Over Half of COMAC’s C919 Orders Came from China's Financial Leasing Sector, Says Banking Regulator

Over Half of COMAC’s C919 Orders Came from China's Financial Leasing Sector, Says Banking Regulator

Zhang Xia

Date: Sat, 09/30/2017 - 18:43 / source:Yicai
Over Half of COMAC’s C919 Orders Came from China's Financial Leasing Sector, Says Banking Regulator
Over Half of COMAC’s C919 Orders Came from China's Financial Leasing Sector, Says Banking Regulator

(Yicai Global) Sept.29 – More than half of the orders received by China’s state-owned aviation company, Commercial Aircraft Corporation of China Ltd. (COMAC), for its C919 aircraft have come from the country’s financial leasing sector, state-owned Xinhua News Agency quoted Xu Chunwu, deputy director of the China Banking Regulatory Commission (CBRC) as saying on Sept. 28.

The COMAC C919 medium-sized passenger aircraft is China’s civil trunk-liner developed using its own intellectual property rights in line with the latest international regulations on airworthiness.

First developed in 2008, the plane completed its maiden flight in May this year, and its manufacturer has received more than 750 orders to date.

China’s financial leasing companies have worked with major domestic airlines through bonded leases and joint tenancy, to provide domestic airlines multiple services including fleet expansions, while helping them to reduce financial costs and improve operation efficiency, Xu said.

Financial leasing companies have provided roughly one-sixth of the 3,141 civil aviation transport planes currently in operation in the country, relevant data show.

China's financial leasing industry is deepening efforts for international cooperation, he added. China's aviation leasing activities currently cover more than 30 countries and regions including Asia and Europe.

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Keywords: COMAC C919