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Airlines

Name: CCB LEASING
7JetSet7 Code: CCB
Status: Operational
Region: EUROPE
City: DUBLIN
Country: IRELAND
Employees 27
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Sita:
Background
(definitions)

Formed and started operations in 2015. Airplane Leasing firm.

EIRE/IRELAND WAS ESTABLISHED IN 1919, IT COVERS AN AREA OF 70,284 SQ KM, ITS POPULATION IS 3.6 MILLION, ITS CAPITAL CITY IS DUBLIN, AND ITS OFFICIAL LANGUAGES ARE ENGLISH AND GAELIC.

October 2015: A unit of the China Construction Bank (CCB) is establishing its aircraft leasing business in Dublin.

It also plans to expand its new Irish base to eventually handle shipping and other leasing operations. (CCB) Leasing International (CCBLI) has just 17 aircraft in its portfolio, but aims to grow that to about 200 within the next five years.

The Irish office will be responsible for all (CCBLI)'s aircraft leasing business outside China.

State-owned China Construction Bank launched the Dublin arm of its leasing business on October 16. "Ireland is an ideal launch pad for European, African and American markets, and we aim to expand into shipping and other leasing activities from our Irish base in the future," said Hongzhang Wang, Chairman of China Construction Bank.

He added that international expansion of (CCBLI)'s aircraft leasing division is "integral to the development" of its transport portfolio and will help establish (CCBLI) as a "world leader in (the) leasing business."

The (CCBLI) and (IDA) Ireland have also signed an official memorandum of understanding (MOU). "The (MOU) signifies our already strong relationship with the (IDA) and our commitment to Ireland," said Jingpu Gu, Chairman of (CCB) Financial Leasing.

Lei Zhang, the Vice President of (CCB) Financial Leasing, and Larry Chi, Head of Corporate Banking & Securities (China) at Deutsche Bank, also signed an agreement to provide (CCBLI) a US$500 million financing facility.

There's intense interest among Chinese investors in leasing, with significant increases in air passenger travel forecast in the region in coming years. China's Bohai Leasing (AZV) recently agreed to buy Dublin-based aircraft lessor, Avolon, which was co-founded by Domhnal Slattery.

Bohai (AZV) is majority-owned by China's state-owned (HNA) Group. Avolon is listed on the New York Stock Exchange and the transaction places an enterprise value of US$7.6 billion on the Irish company. It has about US$5 billion of debt. That takeover is due to be completed next year.

Bohai plans to become the world's third biggest aircraft lessor following the transaction. Avolon has an active and ordered aircraft fleet of 253 jets.

Bohai's Chief Operating Officer, Ren Weidong, recently said that Chinese lessors will account for a larger share of the global leasing market in the future.

Mr Weidong told the 'South China Morning Post' that the leasing market is on an upward cycle, despite some volatility.

He also predicted that almost 70% of China's demand for over >6,000 aircraft in the next 20 year will be met by lessors. "Aircraft leasing in China has entered the asset management age," he said.

In a bilateral meeting with the Minister for Business & Employment, Ged Nash following the ceremony, Mr Wang and senior China Construction Bank (CCB) officials discussed (CCBLI)'s performance strategy and outlined their growth plan for Ireland.

Mr Nash pointed out that half the world's commercial aircraft fleet is now managed out of Ireland, and that the leasing sector employs 1,200 people here.

Martin Shanahan, the (CEO) of (IDA) Ireland, said the leasing arms of five of the top six Chinese banks now have operations in Ireland. "Attracting investment from Asia is an important part of (IDA)'s global strategy, and China is a key strategic market for us," he said.

Fleet:
(definitions)

April 2016:

17 LEASED AIRCRAFT.

Management:
(definitions)

HONGZHANG WANG, CHAIRMAN CHINA CONSTRUCTION BANK.

JINGPU GU, CHAIRMAN (CCB) FINANCIAL LEASING.

LEI ZHANG, VP (CCB) FINANCIAL LEASING.

 
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