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24 February 2009
24. February 2009 Commercial Aircraft

Dragon Aviation Leasing receives its first directly purchased Airbus aircraft

Customer awaits first delivery from Final Assembly Line China in Summer

Dragon Aviation Leasing Company Limited, a Beijing-based aircraft leasing company, today took delivery of its first directly purchased Airbus aircraft at a delivery ceremony in Toulouse, France. The aircraft, the first of 13 A320s that the company has ordered, is leased to Air France.

The company is a joint-venture of China Aviation Supplies Holding Company (CAS), AerCap and Calyon Airfinance. Dragon Aviation Leasing was created 2006 in response to the development of the aviation industry in China. The new aircraft leasing company aims at answering worldwide market demand for aircraft, focusing on China and other Asian countries.

"The delivery of our first directly ordered Airbus aircraft marks an important step forward for the joint-venture's plans to build up a fleet of $1 billion worth of aircraft over the next few years. Although the current financial crisis may have negative effect on the air traffic industry globally, we still see growth potential. The long-term economic prospects for China and other Asian countries are expected to drive continued demand for new, fuel-efficient narrow-body aircraft such as the A320 Family for many years to come," said Jean-Louis Chevrot, Chief Executive Officer of Dragon Aviation Leasing. "We are proud to have Air France as the customer of one of our A320 Aircraft. Our strategy is to invest in aircraft with low operating costs, which in return will play a positive role in improving the profitability of our clients."

John Leahy, Airbus Chief Operating Officer, Customers said: "China is a growing market and we are delighted that Dragon Aviation Leasing has chosen to build up its fleet with Airbus A320 Family aircraft. This is a clear vote of confidence for our best selling single-aisle programme. The aircraft's economic efficiency - unbeatable in the 100-220-seat category - makes the A320 Family a huge asset for leasing companies and operators worldwide."

This summer Airbus will deliver the first A320 assembled at the Final Assembly Line China (FALC) in Tianjin to Dragon Aviation Leasing.

The A320 Family, which includes the A318, A319, A320 and A321, is recognized as the benchmark single-aisle aircraft family. Each aircraft features fly-by-wire controls and all share a unique cockpit and operational commonality across the range. Around 6,300 Airbus A320 Family aircraft have been sold and more than 3,700 delivered to some 220 customers and operators worldwide, making it the world?s best-selling commercial jetliner ever. With proven reliability and extended servicing periods, the A320 Family has the lowest operating costs of any single-aisle aircraft. Uniquely, the A320 Family offers a containerized cargo system, which is compatible with the world wide standard wide-body system.

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