- First commitment for Ruili Airlines with overseas leasing company -
Kunming 18th May 2018:SMBC Aviation Capital, the leading aircraft leasing company and Chinese airline, Ruili Airlines, have today announced that they have signed a letter of intent (LOI) for the placement of two Boeing 737 MAX 8 aircraft. This is the first commitment that Ruili Airlines has negotiated with an aircraft leasing company outside of China. The announcement was made at an event in Ruili City, China to celebrate the airline's four-year anniversary.
The transaction will add a new customer to SMBC Aviation Capital's portfolio. It also further strengthens SMBC Aviation Capital's presence in the Chinese market and involves the placement of the two aircraft direct from its order book with the first aircraft set to deliver in 2019.
Headquartered in Kunming, Ruili Airlines is a full-service carrier providing domestic and international routes to destinations in China and across Southeast Asia. Equipped with CFM International LEAP-1B engines, Advanced Technology winglets and other improvements, delivering the highest efficiency, reliability and passenger comfort in the single-aisle market, the new aircraft will support the expansion of the airline's fleet and growth in the region.
Speaking on the announcement, Chairman of Jingcheng Group Co.LTD, , Dong Le Cheng said, "We are pleased to partner with SMBC Aviation Capital, our first aircraft leasing relationship outside of China. We are looking to considerably expand our fleet in the coming years and these new aircraft will help achieve our target of adding 40 aircraft by 2021. These aircraft will help us achieve enhanced operational efficiency and our service experience as the Chinese market for air travel continues to grow."
Peter Barrett, CEO, SMBC Aviation Capital said, "We look forward to building on our new relationship with Ruili Airlines with the placement of these two aircraft. China is a fast-growing market that is seeing increased demand for high-quality aircraft that offer the latest technology and this deal allows us to further extend our presence in the region."
For more information please contact:
Orla Benson, SMBC Aviation Capital, Mobile: 00 353 86 047 4343
Ben Griffiths/Selene Alford, Powerscourt: +44 7753 464 637 / +353 87 642 8844
About Ruili Airlines
Ruili Airlines-the proud of Yunnan- is a Chinese full service carrier based at Kunming Changshui International Airport. It provides both domestic and international services to destinations in China and in Southeast Asia (Chiang Mai, Chiang Rai and Sihanoukville), using Boeing 737 aircraft.
The airline was established in 2014 and is wholly owned by the Yunnan Jingcheng Group. It received its Air operator's certificate on 22 January 2014.Its first service, between Kunming and Mangshi, was launched on 18 May 2014.As of 10 January 2018, the Ruili Airlines fleet consists of 16 Boeing 737 aircraft.
About SMBC Aviation Capital
SMBC Aviation Capital is one of the world's leading aircraft lessors, with c. 100 airline customers in 42 countries. At 31 March 2017, the company owns, manages and is committed to purchase 668 aircraft. Established in 2001, the company was acquired in 2012 by a consortium comprising of two of Japan's biggest companies SMBC and Sumitomo Corporation. For further information go to https://www.smbc.aero/