(Yicai Global) June 26 – An overseas unit of Bohai Leasing, the world's second-largest aircraft leasing company that has recovered from the Covid-19 pandemic this year, intends to purchase 20 Airbus A330Neos for USD6.3 billion.

Avolon Aerospace Leasing signed a memorandum of understanding with Airbus, a European airplane manufacturer, to buy a slew of wide-body airliners at the Paris Air Show on June 21, the Tianjin-based aircraft and container leasing firm said in a statement recently. The products are expected to be delivered between 2026 and 2028.

The transaction will boost the company’s order reserves, increase its bargaining power, and lower its purchasing costs, Bohai Leasing said, adding that will also fortify its global competitiveness, as well as reinforce its market share and brand recognition.

Bohai Leasing is the largest mainland-listed leasing company. The number of aircraft ordered or managed reached 860 as of March 31 and the number of containers owned exceeded 4.17 million container equivalent units. The company is the fourth-biggest container leasing firm in the world, according to its website.

However, Bohai Leasing has been able to turn around only in the first quarter of this year to make a net profit of CNY246 million (USD34 million) due to the easing of the multi-year Covid-19 pandemic after three straight years of losses till 2022, tallying CNY11 billion (USD1.5 billion).

Shares of Bohai Leasing [SHE:000415] fell by 1.9 percent to close at CNY2.06 (US 30 cents).

Editor: Emmi Laine