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OKA-2005-12-A-DROPS NO FRILLS
Formed in 2004 and started operations in 2005. Formerly Shenzhen Airlines (SHZ). A K A OK Air. Domestic & regional, scheduled & charter, passenger & cargo, jet airplane services.
No 16 Tianzhu Zhong Road, Section A
Beijing 101312, China
China (People's Republic of China) was established in 1949, it covers an area of 9,560,980 sq km, its population is 1,265 million, its capital city is Beijing, and its official language is Chinese.
China is a country in East Asia, the world's 3rd largest country by area (after Russia and Canada) and the largest by population. It is bordered on the north by the Republic of Mongolia and Russia, on the NE by Russia and North Korea, on the east by the Yellow Sea and the East China Sea, on the south by the South China Sea, Vietnam, Laos, Myanmar (formerly Burma), India, Bhutan, and Nepal, on the west by Pakistan, Afghanistan, and Tajikistan, and on the NW by Kyrgyzstan and Kazakhstan. China includes >3,400 offshore islands. The total area of China is 9,571,300 sq km/3,695,500 sq mi, not including Hong Kong, Macau, and land under the control of the Republic of China on Taiwan. The capital of China is Beijing; the country's most populous urban center is Shanghai.
March 2005: Tianjin, the port city of Beijing has a 10 million population and is located 60 miles SE of Beijing.
1st flight Tianjing to Kunming in the SW, carrying 81 passengers and with Okay's President, Sui Ming-guang at the controls.
Okay Airways (OKA) backers are investors from Beijing and the southern financial center of Shenzhen near Hong Kong and include Xinjiang Qili Investments, Ai'kai Investment Development, & Beijing Qili Logistics.
Okay Airways (OKA) is China's 1st private sector airline since the country became communist in 1949 and the 1st in recent years to get an Air Operators Certificate (AOC) from the (CAAC) (CAC).
(OKA) will start with charter passenger services and then expand into scheduled services, and dedicated cargo services.
Is planning passenger routes from Tianjin to Chinese cities such as Changsa, Guilin, Harbin, Hohhot, Kunming, Taiyuan and Zhang Jiajie.
1 737-9B5 (B-5110), Korean Air (KAL) wet-leased. The airplane has the English letters "OK" painted in gold on its white fuselage and its "OKAIR.net" branding. +5 orders 737-900, (KAL) wet-leased.
August 2005: Korean Air (KAL) may take a stake in Okay Airways (OKA). Maximum allowable is 49% and 25% from any other 1 foreign investor.
October 2005: Okay Airways (OKA), China's 1st private carrier, has abandoned its low cost carrier (LCC) model. The 7 month old airline was unable to cut expenses due to China's unified regulatory and pricing systems. “Given the current conditions, it’s impossible for Okay (OKA) to really succeed as a (LCC) budget airline,” (CEO) Liu Jieyin told state-run media. “There are too many costs that we cannot control, which makes it difficult for us to reduce costs in a large scale. This is the major reason that we ditched the (LCC) business model.”
Tianjin-based Okay (OKA) launched domestic passenger services in March, when it became the country’s 1st new airline in many years and the 1st without government ownership, using Boeing Capital-owned 737-900s leased from Korean Air (KAL). It is holding talks over the sale of a stake to (KAL).
Like other new privately owned airlines that have since started operating within China, (OKA) had said it would adopt the (LCC) model, with short airplane turnaround times, no frills, lower ticket prices than those offered by incumbent carriers and the use of a single airplane type. It now says it needs to adopt a “more conventional business model” to survive.
Liu said (OKA) has found that around 80% of the costs in China are out of an airline’s control, due to the fact that there are so many regulatory barriers including restrictions on ticket pricing, regulations on which airports can be served and tightly controlled jet fuel pricing.
“After Okay (OKA) was established, 40 to 50 airports have called us to open flights, but we could not fly to these places because airline companies cannot decide on the flight routes,” he said. “We need a looser policy and market environment. It will take at least 3 to 5 years for the low-budget aviation market to mature in China.”
December 2005: SR Technics (SWS) and Chinese startup Okay Airways (OKA) signed a Memo of Understanding (MOU) calling for the creation of a maintenance joint venture in Tianjin. The facility will provide "full technical solutions" for Airbus (EDS) and Boeing (TBC) types including airplane services, fleet technical management and component support.
February 2006: Chinese domestic airlines flew a record 138 million passengers in 2005, a rise of +15% over 2004 and double the number of 2000. The figure is expected to double again in the next 5 years, according to Gao Geng, the Vice Minister of the General Administration of Civil Aviation in China (CAC). Cargo and airmail throughput rose +14% to 3.04 million tons in 2005 and also is expected to double in the next 5 years. However, profit margins will remain tight within the sector. He noted revenues in the sector had grown to CNY170 billion/$21.09 billion at the end of 2005, but profits in the past 5 years had amounted to only +CNY10 billion.
March 2006: Okay Airways (OKA), based in Beijing, leased 2 used 737-83Ns (30679, B-2865; 30673, N332TZ (see photo)), ex-(ATA) Airlines (AAT), from International Lease Finance Corporation (ILF) and will be leased for 8 and 10 years.
May 2006: Okay Airways (OKA) operates domestic passenger, and charter, jet airplane services and expanded into scheduled passenger and dedicated cargo services.
(IATA) Code: BK - 866. (ICAO) Code: OKA - (Callsign - OKAY JET).
Main Base: Tianjin Binhai International airport (TSN).
Domestic, scheduled destinations: Changsha; Haikou; Hangzhou; Harbin; Kunming; Sanya; Shenyang; & Tianjin.
February 2007: OK Air (OKA) (D B A Okay Airways) is starting all-cargo services this year with a former Varig (VAR) 737-300F (B-2117), (ILF) leased - see photo. Another 2 737-300s, ex-Air China (BEJ) are under conversion at Jinan by (STAECO) in cooperation with (PEMCO).
March 2007: FedEx (FED) said it plans to launch next-business-day domestic express service in China from May 28, with Okay Airways (OKA) operating an air cargo network using 737F freighters in support. (FED) plans to provide 19 Chinese cities with next-business-day, time-definite delivery and another 200 cities with next-day, but not time-definite service. It will operate a hub-and-spoke system centered at Hangzhou Xiaoshan International in Zhejiang Province. The Hangzhou hub initially will be able to sort up to 9,000 packages per hour. China's 1st privately held airline, Okay (OKA) launched in 2005 as a low-cost carrier (LCC). It operates 737-900s on its passenger flights and will use 3 737Fs to support FedEx (FED). Each airplane will make 2 "circular routes nightly," (FED) said.
May 2007: China's new privately run Low Cost Carriers (LCC)s are looking to strategic investors as a method of raising capital, as it is becoming increasingly difficult to access traditional sources of bank lending, owing to the airlines' less-than-stellar financial performance. The Juneyao (JYA) Group announced that its Juneyao Airlines (JYA) subsidiary is seeking a strategic investor to aid in the carrier's long-term development. The announcement was made after (JYA) said the airline was profitable in April and expects to post a full-year profit as well. Actual results were not disclosed.
Juneyao (JYA) (CEO) Huang Hui said that "the right candidate" should be an investment bank with ample experience in the air transport industry to aid both domestic and future international expansion.
Earlier this year, Shanghai-based Spring Airlines (CQH) revealed its intent to seek a financial investor, when it posted a 2006 net profit of +CNY20 million/+$2.6 million on revenue >CNY500 million. Interestingly, in 2004, (CQH) rejected a proposal by Singapore Airlines (SIA) to acquire a 40% stake. Spring (CQH) spokesperson Zhang Lei told "Finance Magazine" that the company has talked with Merrill Lynch, Goldman Sachs and Citigroup, but no deal has been reached. He noted that while (OKA) is seeking new investment, it is not interested in selling a majority stake. Insiders speculate it will have to raise at least CNY3 billion to support last October's order for 10 A320s.
The desire to attract investment, without sacrificing control, played out in the failed deal between (OKA) and Korean Air (KAL). In August 2005, (OKA) signed a letter of intent (LOI) with (KAL) under which (KAL) and another Korean company were to have acquired 49% of the airline, but both sides walked away over the issue of control. "(KAL) wants to assume the presidency and take up equal seats on the board with us, which we can't accept. Even if they don't have controlling stake, conflicts will still arise," (OKA) Chairman, Liu Jieyin explained.
July 2007: Okay Airways (OKA), as part of its accelerated preparation to launch a regional carrier, is nearing an order for 30 Xian MA60 turboprops. Negotiations with AVIC I are expected to conclude soon, (OKA) President Liu Jieyin announced. (OKA) signed a Letter Of Intent (LOI) at last year's Zhuhai Air Show for the airplanes, which are worth approximately CNY1.8 billion/$236.7 million. Liu also noted that the company will establish 5 to 6 bases for its regional subsidiary, which will operate principally in central and western China.
(OKA) expects to take delivery of 2 737-800s by early next year. It currently operates 2 737 passenger airplanes and 3 737F freighters.
August 2007: Early indications are that (CAAC) (CAC)'s decision to bar most new domestic entrants from the market until 2010, will have the desired effect, as Low Cost Carrier (LCC)s and airlines still seeking approval, are struggling to move forward in the wake of the regulator's action. Haitong Securities aviation analyst, Ma Yin noted that a dozen companies, that had expected to enter the market, now likely will fail to secure (CAC) approval because of the policy announced 2 weeks ago.
While new companies struggle, (LCC)s face their own challenges, as a result of the revised regulations. Okay Airways (OKA) Chairman, Liu Jieyin pointed out that the policy also has imposed strict control on fleet expansion, by limiting capacity growth of newer carriers and the ratio of crew to airplanes. A Spring Airlines (CQH) spokesperson said China's pilot (FC) shortage is the critical handicap for (LCC)s. (CAAC) (CAC) dictated that 5 captains (FC) and 5 copilots (FC) must accompany the addition of each airplane. (CQH) operates 8 planes and employs 200 pilots (FC) plus trainees.
China Securities Co analyst, Li Lei said the new policy is not targeted specifically at (LCC)s, but that it inevitably will slow their growth. Shortages in domestic airport capacity, slots and pilots (FC) are prominent throughout China's air transport industry. Flight safety will be threatened if more new carriers are approved for launch, he said.
October 2007: The (CAAC) (CAC) is aiming to boost China's long-neglected domestic regional market further, with the distribution of new subsidies, even as the recent trend of companies investing in regional start-ups, appears to be accelerating. According to a new regulation scheduled to be implemented by year end, all regional routes measuring 600 km or shorter, will be eligible for the subsidies, with preference given to those opened in central, western or northeastern China. "Though government subsidies can alleviate some temporary difficulties for the regional carriers, it is much more important for these carriers to improve their profitability," China Securities Co analyst Li Lei noted. Last year, (CAC)'s administrative branch in the northwest was chosen on a trial basis to distribute subsidies to regional carriers operating in the region. Industry insiders credit the program with helping push Kunpeng Airlines, the Mesa Air Group/Shenzhen Airlines (SHZ) joint venture, that launched last month, to choose Xi'an as its base. Kunpeng started with three CRJ-200s and intends to add 20 50/90-seat airplanes annually, until it reaches a fleet of 160 to 200. Other signs the regional market is heating up can be found at (HNA) Group's Grand Xinhua Express, which currently operates 29 Do-328s but may take some of the 50 ERJ-145s and 50 E190s ordered by the parent company, according to Chairman, Cheng Feng and China Eastern Airlines (CEA), which has confirmed its plan to launch its own regional in partnership with (AVIC I).
In July, Okay Airways (OKA) said it is nearing an order for 30 MA60 turboprops as part of its preparations to launch its regional carrier, which (OKA) President, Liu Jieyin noted will operate principally in central and western China.
November 2007: 737-8GQ (35793, B-5366), Pegasus Aviation (PSS) leased.
December 2007: (AWAS) (AWW) delivered the 1st of 3 737-8Q8s (30733, B-5367) to Okay Airways (OKA), (AWAS) (AWW) leased. The remaining 2 airplanes will be delivered to (OKA) late next year.
March 2008: After suffering from continuous setbacks on its trunk routes, Tianjin-based Okay Airways (OKA) will shift its focus to the regional market, when it takes delivery of its 1st MA60 turboprop this month, according to Chairman, Liu Jieyin. Its 2nd MA60 is expected to be introduced in April. Last summer, (OKA) signed an airplane lease agreement with (AVIC I) for 10 MA60s. It currently operates 5 737s to 22 domestic destinations.
(OKA) will begin by trying to capture regional fliers in NE and N China, before expanding its catchment area to the NW and central part of the country. Liu said it has conducted market research for airports in Harbin, Shenyang, Tianjin and Shijiazhuang.
"There are 12 empty airports around Harbin, such as Heihe Airport, Mudanjiang Airport, etc, whose geographical distances are between 300 and 600 km, which are the airports we are going to operate in," he explained. (OKA) is applying to the (CAAC) (CAC) for 6 new regional routes, which he noted will connect with its existing trunk network. The Chinese regional market remains in its "breeding phase," as the number of regional airplanes operated by Chinese airlines is just 77 and 3 main regional carriers (China Express Air, Grand Xinhua Express, and Kunpeng Airlines) operate at a loss.
August 2008: China's (AVIC I) and (AVIC II) unveiled details of their pending integration, which is expected to take place this month. According to (AVIC I), it and (AVIC II) will merge into a new company that will be in charge of various branch companies and focus on "aviation manufacturing" and "car production." (MA) turboprop production will be given priority initially. The MA60, the 1st airplane in the (MA) series, has received 136 orders, mostly from SE Asian and African carriers. Last month, a 50-seat MA60 was delivered to Okay Airways (OKA), the 1st Chinese carrier to take delivery, and Yunnan YingAn Airlines followed this month.
October 2008: Okay Airways (OKA) became the 1st Chinese carrier to operate the domestically produced MA60, as (OKA) completed a successful inaugural flight on October 19. The 50/60-seat turboprop's other customers are from Latin America, Africa, and elsewhere in Asia. The airplane has received 136 orders so far. China's 1st Low Cost Carrier (LCC), (OKA) has increased its focus on the regional market in recent years. Last year, it signed a lease deal with China Aviation Industrial Leasing Company for 10 MA60s. (OKA) President, Liu Jieyin said the 1st MA60 will operate from Tianjin to Dalian, Yantai and Jinzhou. Over the next 2 years, (OKA) expects to take delivery of the remaining 9, helping it to establish a regional network connecting Tianjin to northern, NE, and central China, and complementing its trunk routes to Kunming, Hangzhou, Haikou, Sanya, Guilin, and elsewhere. It currently flies 8 737s. China Aviation Industry Corporation Group Chairman, Lin Zuoming said (OKA)'s successful MA60 introduction marked the beginning of Chinese turboprops' batch operation by domestic carriers and he is confident the airplane will become "a role model to earn profits for Chinese airlines."
December 2008: Okay Airways (OKA) passenger operations will shut down for 1 month, owing to conflicts between airline management and the controlling stakeholder Juneyao (JYA) Group, which sent a letter to the (CAAC) (CAC) claiming it no longer is able to guarantee (OKA)'s operational safety. (OKA) will suspend operations from December 15 to January 15, as instructed by the (CAC), which will send staff to audit (OKA)'s safety standards. It has delayed taking delivery of its 2nd MA60.
(OKA)'s cargo cooperation with FedEx (FED) will continue to operate as usual. Juneyao (JYA), which controls 63% of (OKA), said (OKA) will earn a profit from its cargo business this year, but will continue to suffer losses on its passenger operation, as the Chinese market continues to decline. (OKA) had hoped to introduce a 3rd-party strategic investor, but the Juneyao (JYA) Group rejected the strategy, and plans to merge (OKA) with its Shanghai-based, Juneyao Airlines (JYA) subsidiary.
The Chairman of (OKA)'s controlling shareholder, the Juneyao Group (JYA), Wang Junjin promised that the troubled airline will resume flying "as soon as possible" following a 1-month shutdown imposed by the (CAAC) (CAC). Wang admitted that (OKA) has been suffering operating losses owing to "its unclear management focus to operate trunk routes and regional routes at the same time, as well as to explore not only the passenger transport market, but also the cargo transport market." In response, (JYA) fired (OKA) Chairman, Liu Jieyin. It said it has no plan to lay off (OKA)'s general staff. Owing to difficulties in securing profitable routes and pilots (FC), smaller privately run Chinese carriers are struggling to survive, especially in the current difficult environment. Wang said he plans to optimize (OKA)'s route network, improve efficiency, and reduce operating costs in order to boost performance.
(OKA) currently operates 3 737 passenger airplanes, 3 737-300F freighters, 1 MA60 and 2 Y-8s on nearly 20 domestic routes.
January 2009: Okay Airways (OKA) applied to the (CAAC) (CAC) for permission to resume operations following its suspension last month. (CAC) North China Regional Administration spokesperson, Sun Defu confirmed that the (CAC) received (OKA)'s application and will conduct a safety check before granting approval, for which Sun did not provide a timetable. (OKA) Chairman, Liu Jieyin told local press that "fund shortages" remain an obstacle to the Tianjin-based airline's relaunch. It is estimated that (OKA) needs >CNY100 million to resume operations, and it has lost more than that amount in the weeks since it suspended operations, following a dispute between management and the controlling shareholder Juneyao Group (JYA) over (OKA)'s operational safety. Liu was fired by (JYA) last month but continues to act as Chairman with the support of other (OKA) stakeholders. (JYA) and management have agreed to set aside their differences while trying to relaunch (OKA). (OKA) also operated cargo flights in cooperation with FedEx (FED) and said it will attempt to resume its deal with the USA company as soon as it receives relaunch approval from the (CAC).
Later, (OKA) was approved to resume operations. According to the (CAC), (OKA) is permitted to operate passenger services from Tianjin to Harbin, Chengdu, Sanya, Kunming via Changsha, Sanya via Zhuhai, Chongqing via Taiyuan and Quanzhou via Nanjing. From February 1, it is expected to resume operating approximately 20 routes. It is estimated that (OKA) has suffered a -CNY100 million/-$14.6 million loss due do the suspension. (OKA) noted that it would attempt to resume its cargo cooperation with FedEx (FED) soon.
February 2009: Shanghai-based, Spring Airlines (CQH) and Juneyao Airlines (JYA) stood out among China's struggling privately held airlines and reported a profitable 2008.
(CQH) posted a +CNY21 million/+$3.1 million net profit last year, down -70% from the more than >+CNY70 million earned in 2007. It credited the result partly to a CNY20 million civil aviation infrastructure payment imposed in the second half of last year. (CQH)'s operating revenue climbed +32% year-over-year to CNY1.62 billion as it transported 2.9 million passengers, up +26%, with an average load factor of 93.3% LF.
Juneyao Airlines (JYA) posted a +CNY11.5 million net profit in 2008. It carried 1.4 million passengers.
In contrast to (CQH) and (JYA), other privately run carriers are suffering from capital shortages and struggling to survive in the difficult operating environment. Unlike state-owned airlines, they are unable to secure financial aid from the government. Wuhan-based, East Star Airlines (ESR) and Chengdu-based, United Eagle Airlines (UEG) are unable to pay significant bills owed to certain airports, while Tianjin-based, Okay Airways (OKA) suffered a -CNY200 million net loss in 2008.
Industry analysts assert that most private airlines will have no other option but to merge with the bigger domestic carriers. United Eagle (UEG) is seeking strategic investors for a CNY100 million capital injection while East Star (ESR) has had initial discussions with Air China (BEJ) parent, China National Aviation Holding Company about a stake sale.
May 2009: Hainan Airlines Group plans to relaunch its "Grand China Express Airlines" subsidiary as "Tianjin Airlines" on June 8 after reaching a deal with the local government. Originally started in June 2007, Grand China operated 10 EMB-190s, 12 ERJ-145s and 29 Do 328-300s in April on more than >80 domestic routes. In December, the Tianjin government agreed to inject CNY200 million/$29.3 million into Grand China, giving it a 15.4% stake in the reconstituted carrier, which has been approved by the (CAAC) (CAC). Hainan (HNA) will remain the controlling stakeholder, expanding its share in Tianjin Airlines to to 83.4% with an additional investment of CNY500 million. Its Hainan Airlines (HNA) subsidiary holds the remaining 1.5%. The new airline is expected to operate 100 airplanes on more than >500 routes to 100 cities by 2012.
(HNA) is not the only domestic carrier to seek local government support. It has been reported that Tianjin-based Okay Airways (OKA) also plans to introduce the Tianjin government as its strategic investor. "It had planned to purchase a 40% stake of Okay Airways, but the sides haven't reached an agreement yet," a source close to the issue said.
July 2009: Okay Airways (OKA) Chairman, Wang Junjin said (OKA) will add one or two new investors within two months that will provide a capital injection of +CNY200 million/+$29.2 million to bolster the troubled airline. The Tianjin municipal government reportedly is one of the potential investors and is expected to purchase a 40% stake, but Wang refused to confirm this. (OKA) currently has a registered capital of CNY300 million. The Juneyao Group (JYA), of which Wang is also the Chairman, controls a 63% stake while Beijing Dadiqiao Investment Company and three other individuals hold the remainder.
Asked if the capital injection will dilute Juneyao (JYA)'s holding, Wang said, "It is not important whether we are the controlling stakeholder or not after the capital injection. It's more important for (OKA) to maintain stable growth."
(OKA) was forced to suspend operations December 15, 2008 to January 15, owing to conflicts between airline management and Juneyao (JYA). Wang admitted the problems remain unresolved, but he insisted that the internal conflicts won't impede the company from attracting new investors. "(OKA)'s stock equity structure will change after we introduce new investors, which will alleviate the conflicts," he said.
However, the problems have had a negative impact on the carrier's safety standards. A (CAAC) (CAC) source revealed that the regulator has told (OKA) to strengthen its level of safety or face the prospect of having its operations restricted.
Wang rejected the notion that (OKA) will have to suspend operations again and claimed that it now enjoys a stable cash flow. He added that it recently resumed cargo services.
March 2010: The Juneyao Group sold its 63% stake in Tianjin-based Okay Airways (OKA) to Chinese cargo and logistics company, the Da Tian W (DTW) Group and said it prefers to concentrate on building its Shanghai-based Juneyao Airlines (JYA).
(OKA) was China's first privately run airline when it was launched in May 2004, but it has yet to turn a profit. The losses have been attributable partly to conflicts between the Juneyao Group and other investors that resulted eventually in (OKA)'s suspension of operations in December 2008. It resumed flying one month later, although disagreement about its future remained. Juneyao Group Chairman, Wang Junjin then revealed he intended to sell its majority share in (OKA) to a strategic investor.
It is noteworthy that Juneyao (JYA) also sold its stake in another privately held carrier, United Eagle Airlines (UEG), last year. "We want to focus our attention on Juneyao Airlines (JYA) from now on, which might work better than making investments in other carriers," Wang explained.
The sale has been approved by the (CAAC), and (DTW) Chairman, Wang Shusheng will become the Okay (OKA) Chairman. (OKA) operates three 737-800s, three 737F freighters, two Yun-8s and one MA60 on more than >20 domestic routes. It will introduce three or four additional 737-800s and two more MA60s by year end and aims to expand its regional fleet to 10 airplanes over the next three years.
(OKA) suffered a -CNY500 million/-$73.1 million net loss last year and (DTW) is negotiating with several companies regarding further investment. Founded in 1992, Beijing-based (DTW) operates 23 international freight forwarding stations and 33 distribution centers. It sold its domestic courier network to FedEx (FED) in 2007.
July 2010: ALAFCO (AVF) will lease three new 737-800s to Okay Airways (OKA) for 96 months, "Reuters" reported.
August 2010: In response to robust domestic demand growth, Okay Airways (OKA) plans to expand its fleet from eight to 12 airplanes by year’s end and to 20 airplanes by the end of 2011. The current fleet consists of three 737-800s, two MA60s and three 737 freighters operating on more than >20 domestic routes.
(OKA) placed an order with AVIC for 10 MA60s in 2007. But owing to (OKA)’s suspension of operation at the end of 2008, it introduced only one MA60 earlier this month. It operates on (OKA)'s Shenyang - Dalian route.
The other MA60s are expected to be delivered within two years as (OKA) opens more regional routes to Beijing, Tianjin, Hebei Province, Shandong Province, and Liaoning Province.
(OKA) also signed an agreement in June with (ALAFCO) (ALV) to lease three 737-800s. Two will be introduced in December and one in July 2011.
In addition, (OKA) ordered 10 737-800s at the Farnborough Airshow last month. Deliveries will begin in 2014.
September 2010: Okay Airways (OKA) plans to introduce at least one strategic investor this year, (OKA)'s controlling stakeholder said.
Wang Shusheng, Chairman of (OKA) majority owner Da Tian W Group, confirmed (OKA) is pursuing additional investors. The Juneyao Group sold its 63% stake to Da Tian W Group in March.
"So far, the Tianjin municipal government, some foreign carriers and foreign investment funds are interested in investing in (OKA)," Wang said. He stressed that Da Tian W would maintain its controlling stakeholder status no matter how many strategic investors are introduced.
Wang revealed Da Tian W has invested a total of CNY700 million/$104 million in (OKA) since taking over (OKA) and retiring its debt. "(OKA) made a turnaround in the first half and there is no doubt it would report net earnings this year," said Wang, although he didn’t reveal the exact figure. (OKA) suffered a -CNY500 million/-$73.1 million net loss last year.
With improved financial performance, (OKA) is also committed to fleet expansion. Currently, (OKA) operates four 737-800s, three 737F freighters, two Yun-8s and two MA60s. (OKA) plans to take delivery of three new passenger airplanes by year end comprising two 737-800s, one MA60 and two freighters.
Wang also disclosed Da Tian W Group's plans to launch a separate cargo carrier soon. He said the new entity would launch international airfreight routes within three years.
Daecember 2010: 2 737-8HOs (37932, B-5573; 37934, B-B-5562), deliveries.
January 2011: Okay Airways (OKA) began life with great promise. (OKA) was China’s first-ever privately owned airline when it launched from Tianjin in 2005 but quickly ran into trouble. (OKA) was forced to suspend operations in 2008 before managing to get back in the air with a handful of 737-800s.
1 737-8AS (33557, N594MS), (GEF) leased.
July 2011: Okay Airways (OKA) took delivery of two domestically produced MA60 turboprops from (AVIC). The airplanes will be operated on new routes from Yantai to Dalian, Weiha, Dandong, and Weifang that (OKA) plans to start this month.
August 2011: Okay Airways (OKA) signed a strategic cooperation agreement with the Heilongjiang provincial government to launch two routes to Mudanjiang and Jiamusi from Harbin, part of (OKA)'s plan to further explore the regional air transport market in North China.
(OKA) Chairman, Liu Weining noted that (OKA) would allocate two or three MA60 turboprops to Harbin this year to open additional new routes to Jixi, Yichun, and Heihe. As of June 30, (OKA)'s fleet comprised 14 airplanes. (OKA) ordered 10 AVIC-produced MA60 turboprops in July 2007; two were delivered in October 2008, another two in August 2010 and two last month. (AVIC) has sold 181 MA60s with 61 delivered.
May 2012: Okay Airways (OKA) has applied to the Civil Aviation Administration of China (CAAC) (CAC) to launch a regional airline and plans to place a firm order for 20 AVIC-produced MA60 turboprops, according to (OKA) Executive VP, Liu Jieyin.
If approved, Liu said the new airline will have a new strategic investor. Local industry analysts said approval remains uncertain since the (CAAC) has raised the standard for new domestic carriers.
The MA60 is valued at CNY90 million/$14.2 million) at list prices, much cheaper than its foreign counterparts. (OKA) operates a fleet of 15 airplanes comprising nine 737-800s, one 737-300F and five MA60s.
(OKA) has 10 MA60s on order and is scheduled to take delivery of two of the type in June and August, according to Liu, who said (OKA) plans to introduce 100 more MA60s over the next 15 years.
High operating costs and a lack of favorable policies have made it difficult for China’s two domestic regional carriers, Guiyang-based Chinese Express Airlines (HXA) and Xi’an-based Joy Air (JOY), to be profitable.
The (CAAC) has allotted CNY2 billion through 2015 to develop and grow domestic regional carriers, but industry analysts remain skeptical it will be enough to significantly boost China’s regional airline market.
June 2012: Okay Airways (OKA) has launched scheduled daily, MA-60 flights from both Harbin Taiping International (HRB) via Jiagedaqi (JGD) to Mohe Gu-Lian (OHE) on June 19 when the airport in Jiagedaqi opened to commercial airline operations for the first time since it was initially built in 1970.
July 2012: Okay Airways (OKA) is seeking approval from the Civil Aviation Administration of China (CAAC) (CAC) to launch a new regional carrier (to be named Longjiang Airlines) with the Heilongjiang local government, as it explores the regional market in Northeast China.
“We have submitted our application to the regulator several months ago but so far we are still waiting for green lights,” (OKA) Senior VP, Liu Jieyin said, without giving details on its ownership structure. According to Liu, the new regional entity will be based in Harbin and will operate regional routes in the Heilongjiang Province and its neighboring province in northeast China.
(OKA) has 16 airplanes in its fleet, comprising nine 737s, six MA-60s and one 737F freighter. If the regulator approves the regional carrier, Liu said Longjiang Airlines will operate all six MA-60 airplanes from (OKA). If the carrier is successful, (OKA) hopes to introduce 100 MA-60s in the next 10 - 15 years to launch more regional carriers based in the Hunan and Anhui provinces, Liu said.
November 2012: Okay Airways (OKA) has inked an agreement with the Aviation Corporation of China’s (AVIC) subsidiary, Xi’an Aircraft International Corporation for three MA60s. The order was announced at the Zhuhai Air Show.
(OKA) operates a fleet of seven MA60s on more than >20 regional routes in Northwest China.
(AVIC) has received 199 orders for the MA60 series airplanes, comprising 183 orders for the MA60 and 16 orders for the MA600.
April 2013: The use of head-up displays (HUDs) in Chinese commercial airplanes has made a key advance in China with the decision by one of the country’s three biggest airlines, China Eastern (CEA), to introduce the technology into its narrow body airplanes.
With the Civil Aviation Administration of China (CAAC) (CAC) targeting near-universal use of (HUD)s by 2025, (CEA) has ordered Rockwell Collins (HUD)s for 58 737s, with deliveries due from mid-2013 to 2015.
Okay Airways (OKA), a much smaller carrier, has ordered the same equipment for 10 737s, with similar delivery dates to (CEA)’s.
(HUD)s are becoming steadily more common in commercial aviation globally because they increase safety and landing opportunities in bad weather by keeping pilots (FC)’s attention outside of the airplane, and they also can help guide the landing. But the (CAAC)’s policy is making manufacturers optimistic that the Chinese market will mature early.
Thales (THL) and Rockwell Collins are well positioned as the suppliers for the A320 family and the 737, respectively.
The Chinese market alone is considerable. Rockwell Collins, for example, says its (HUD), the Head-up Guidance System (HGS), has a catalog price of about $350,000 per set. On that basis, the two contracts announced on April 2 are worth about $24 million, before discounts.
Shandong Airlines (SHG) appears to have been the first Chinese carrier to begin using (HUD)s. It ordered the (HGS) for 737s around the middle of last decade, says Rockwell Collins Commercial Systems in China.
China Southern (GUN) ordered its five A380s with Thales (THL) (HUD)s. Xiamen Airlines (XIA) uses Rockwell Collins (HUD)s on its 737s.
Okay Airways (OKA) and Lufthansa Technik (DLH) (LTK) (AERO) Alzey (LTAA) have signed an exclusive two-year-contract for Maintenance Repair & Overhaul (MRO) services for Pratt & Whitney (PRW) (PW127J) engines on eight China-based Okay (OKA) airplanes.
July 2013: Okay Airways (OKA), which is awaiting regulatory approval to launch a regional venture, is now seeking to expand into the international travel arena.
International Lease Finance (ILF) has delivered a new 737-8Q8 (41789, B-5841) to Okay Airways (OKA), which will be used to expand services to meet the growing demand within its flight route network. The airplane is powered by two (CFM56-7B26E) engines and will operate on (OKA)’s routes linking Tianjin with other major cities in China.
Okay Airways (OKA) has converted an order for three 737-800s to three 737-900ERs, making it the first Chinese carrier to order the 737-900ER. (OKA) also ordered 50 MA60s.
October 2013: 737-86N (41262, B-5842), (GEF) leased. 2 MA60s (0914, B-3713; 0915, B-3715) deliveries.
December 2013: Okay Airways ((IATA) Code: BK, based at Tianjin) (OKA) and JoyAir ((IATA) Code: JR, based at Xi'an Xianyang) have become the first carriers to operate scheduled flights out of three newly commissioned airports in China's Inner Mongolia autonomous region. The "WantChina Times" says the three airports of Bayinhot in Alxa Left Banner, Badaijiran in Alxa Right Banner, and Taorai in Ejin Banner, saw their maiden MA-60 services on December 17. As part of plans to improve the region's connectivity, the Chinese government embarked on the construction project in August 2012 with a total investment of CNY 390 million/USD 64 million.
Okay Airways (OKA) has announced Tianjin to Jeju as its first international route. According to (WCARN), the route launched on December 29 and operates 3x weekly with 737-800s. One of China's few privately funded airlines, (OKA) operates eleven 737-800s, ten MA-60s and a single 737-300F on domestic Chinese flights.
Okay Airways (OKA) currently operates 22 airplanes, to 39 destinations, on 64 routes and 98 daily flights.
January 2014: On January 23, 2014, Okay Airways (OBA) launched its first international service (Tianjin - Jeju), marking a breakthrough of the airline in international operation.
The Tianjin - Jeju round-trip service will be offered twice weekly every Thursday and Sunday. The outbound flight is scheduled to depart from Tianjin Binhai International Airport (TSN) at 4:50 am and arrive in Jeju at 7:50 pm; while the return flight will leave Jeju at 9:35 pm and land in Tianjin at 10:40 pm (all local time).
Liu Weining, President of Okay Airways; Yan Xin, General Manager of (TSN) and relevant leaders from the aviation authorities, airport and Customs attended an inaugural flight ceremony held at Tianjin Airport.
In August 2013, Okay Airways (OKA) received permission for expanding its business scope from the Civil Aviation Administration of China (CAAC) (CAC) to cover international cargo and passenger services, as well as Hong Kong, Macau, and Taiwan routes.
The Tianjin-based airline will provide more convenient choices for residents in the two regions by opening new Tianjin - Jeju service. The opening of its first international route marks another historical breakthrough in the development of (OKA), which will make contributions to further improving air network of (TSN) and boosting the local economy.
Okay Airways (OKA) stated it will elevate its international operation gradually and open more international routes by increasingly accumulating experiences.
Jeju Island, also known as the "Island of the Gods," is the biggest island in South Korea. Featuring unique ocean scenery and special folk culture inherited from the Mongolian Yuan Dynasty, the island attracts millions of visitors from all over the world. Travelers from China can enjoy a free visa policy if they choose the non-stop flights to Jeju.
MA60 (1004, B-3722), registered.
April 2014: Okay Airways (OKA) has commenced its second route to the Korean island of Jeju (CJU). On April 16th (OKA) began thrice-weekly flights on the 1,420 km route from Changsha (CSX) using its 737-800s. The flights are currently scheduled to terminate at the end of May, and are (OKA)’s first international services from Changsha. (OKA) already serves Jeju from Tianjin. Competition on the Changsha route is provided by China Southern Airlines (GUN)’s twice-weekly flights. Last year, Jeju International Airport handled just over >20 million passengers, around the same as Salt Lake City in the USA or Dublin in Ireland.
July 2014: Okay Airways (OKA) has ordered six Boeing 737 MAX 8s and four 737-800s, valued at $980 million at current list prices. The deal was announced at the Farnborough Airshow.
The 737 MAX aircraft will be powered by (CFM) International’s (LEAP-1B) engine and the 737s will be powered by the (CFM56-7B) engine. The engine orders are valued at $250 million at current list prices. Deliveries are scheduled to begin in 2015.
Okay Airways (OKA), the first privately owned airline in China, also announced it will convert five 737-800s from a previous order into 737-900ERs. With Monday’s conversion announcement, (OKA) will be the first airline in China to operate the 737-900ER; it has eight of the type on order.
“The 737 is the backbone of our fleet and has fueled our growth with its proven reliability and efficiency,” (OKA) President, Liu Weining said. “The addition of the new 737 MAX airplanes will help us explore new regional markets while strengthening our existing domestic routes.”
Okay Airways (OKA) is headquartered in Beijing with its main hub at Tianjin Binhai International Airport. Its jetliner fleet includes 12 737-800s and one 737-300F freighter, which serves 40 domestic destinations.
January 2015: 737-9KFER (41114, B-1739), ex-(N1786B), delivery.
February 2015: News Item A-1: Okay Airways (OKA) has established Xi’an as its overnight base and has opened 2 new routes to Krabi and Bangkok as it accelerates its expansion pace.
News Item A-2: (OKA), the Tianjin-based carrier took delivery of its 1st of 8 Boeing 737-900ERs earlier, becoming the 1st Chinese carrier to operate the type.
(OKA) noted it would allocate 7 Boeing 737 airplanes, including the 737-900ER, to its Xi’an base by the end of 2017. It currently operates 28 airplanes and plans to expand its fleet to 30 by the end of this year.
Board member, Liu Jieyin has told Chinese media that Okay (OKA) also aims to accelerate its international expansion pace as China’s outbound travel market is growing rapidly. (OKA) operates 10 routes to neighboring countries. “The load factor of our international routes is at about 80% LF to 90% LF now,” Liu has been quoted as saying. He also said profit from international routes is about +20% higher than domestic routes.
As a result, Okay (OKA) plans to launch new routes to Japan this year. It also has plans to launch new routes to Europe in 2016 or 2017, although it has not yet decided which airplane type it will use on these routes.
News Item A-3: Okay Airways (OKA) has taken delivery of its 1st of 8 Boeing 737-900ERs. The delivery marks the 1st 737-900ER to be delivered to a Chinese customer.
“The 737-800 has been the backbone of our fleet and has fueled our growth with its proven reliability and efficiency,” Okay Airways (OKA) President Liu Weining said. “The addition of the 737-900ER airplanes will fit seamlessly into our existing fleet of 737-800 airplanes, allowing us to efficiently match capacity to market demand with industry leading economics.”
The new 737-900ER is configured with 200Y seats in a one-class layout.
(OKA), the 1st privately owned airline in China, is headquartered in Beijing, with its main base at Tianjin Binhai International Airport. Its jetliner fleet includes 13 Boeing 737-800s and 1 Boeing 737-300F freighter, which serves >100 domestic and international routes.
July 2015: Okay Airways (OKA) is facing heavy penalties from China's civil aviation regulators after being found to have overworked pilots (FC). The (CAAC) North China Regional Administration said that Okay Airways (OKA) violated regulations on how many hours pilots (FC) and co-pilots (FC) can work and improperly maintained equipment.
In line with the relevant provisions, the aviation watchdog punished (OKA) to suspend the application for introducing new airplanes, cut flight schedules and imposed a fine, according to a decision made by the regional aviation authority on June 30.
On random inspection of 60 pilots (FC) and 15 co-pilots (FC)'s flight mission documents and crew scheduling from January to May, the aviation watchdog found two pilots (FC) being overworked, 21 instances in which 15 pilots (FC) were in violation of Article 483 and 495 of the pilot (FC) rest regulation CCAR-121-R4 and 65 ones worked >8 hours for a single flight, the maximum permitted under regulations.
Okay Airways (OKA) said responding to the penalties that it never compromises on safety and fully complies with its regulator's mandates. (OKA) agreed to abide by the aviation authority's decision and pledged to resolve the problems and improve its safe operation.
August 2015: Okay Airways ((IATA) Code: BK, based at Tianjin) (OKA) is to merge its regional operations with those of JoyAir ((IATA) Code: JR, based at Xi'an Xianyang) following the signing of a Memorandum of Understanding (MOU), China's "Sina" news agency has reported.
"While it is known that Okay Airways (OKA) and Joy Air's regional aviation businesses are not profitable, the purpose of establishing Joy Air was to use it as a means of independently researching and developing the local airplane industry's regional airplanes (the MA-60) to carry out regional business," a source said. "So it will not be giving up its regional operations."
Regulatory and government approvals aside, the integration is expected to go ahead by the end of the year with all Okay (OKA) MA-60s being transferred to JoyAir.
JoyAir currently operates a fleet of 8 MA-60s on flights throughout China while Okay Airways (OKA) operates 3 737-300Fs, 13 737-800s, 3 737-900s, and 13 MA-60s on flights not only throughout China, but also to South Korea and Thailand.
September 2015: Okay Airways (OKA) plans to launch United Star International Express Airlines with (ATSG) West Limited and 3 other Chinese partners. The cooperation aims to explore China’s fast-growing express delivery market.
The 3 Chinese partners are VIPShop, Tianjin Dongjiang Investment Holding Company, and the Qiaoshui Development Comapny.
The new venture is expected to have a registered capital of CNY400 million/$63 million with Okay Airways (OKA) as the biggest stakeholder. (OKA) Chairman Wang Shusheng will also act as the Chairman of the new venture.
The new entity is scheduled to launch in the middle of 2016 and operate 6 freighters, including 737s, 757s and 767s initially.
Over the past 5 years, China’s domestic express delivery market has experienced an annual growth rate of >30%. However, domestic carriers operate fewer than 120 freighters; only a small number are used for the express delivery market as China’s air cargo service mainly relies on bellyholds of passenger airplanes.
Okay (OKA) noted that initially, United Star would provide express air cargo services in China and neighboring Asian countries and would consider expanding its cargo route network to Europe and America for the long term.
2 737-9KF (4118, B-1521; 4119, B-1522), deliveries.
November 2015: (GE) Capital Aviation Services (GECAS) (GEF) has agreed to lease 2 new Boeing 737 MAXs to China’s Okay Airlines (OKA) for delivery in 2018.
February 2016: News Item A-1: Okay Airways (OKA) has submitted an application to the Civil Aviation Administration of China (CAAC) for launching a round-trip service from Hangzhou to Jeju, South Korea, starting March 2016.
Pending government approval, (OKA) will operate the new Hangzhou to Jeju service with 7x-weekly, using 737-800 airplanes.
News Item A-2: Okay Airways (OKA) is set to become the Chinese launch customer for the Boeing 737 MAX 9, after committing to take 12 737 family airplanes and 8 options, valued at $1.3 billion at list prices.
The agreement, which was announced at the Singapore Airshow on February 17, covers 8 MAX 8s, 3 MAX 9s and 1 737-900ER. “We have been using 737 family airplanes since we launched operations in 2005. They have made (OKA) profitable for many years,” (OKA) (CEO) Wang Shusheng said. “We have committed to 20 airplanes and I am sure these are going to be a great asset, supporting (OKA)'s future development.” The new airplanes will be used for fleet modernization. (OKA) operates 14 737-800s, 3 737-900ERs and 1 737-300F freighter, which serve >100 domestic and international routes.
Privately owned (OKA) is planning to add Beijing as its 7th operating base, growing to 8 by 2020. “Through (OKA)’s long-term strategic partnership with Boeing (TBC), we are very confident that we will become the best privately-owned airline in China,” (OKA)’s (CEO) said.
March 2016: A brand-new 737-800 airplane landed smoothly at Tianjin Binhai International Airport and officially joined the fleet of Okay Airways (OKA), marking the 1st new jet introduced by (OKA) in 2016.
The 737-800 (B-7373), is also the 19th airplane of (OKA), which provides more capacity for the upcoming new summer/autumn flight season. (OKA) held a brief welcome ceremony for the arrival of the new airplane at Tianjin Airport, with attendances of Executive VP Liu Zonghui and other staff.
May 2016: News Item A-1: INCDTS: 3 Chinese airlines have been punished over errors that could have resulted in plane crashes, China's civil aviation regulator, the (CAAC) announced.
In addition, the (CAAC) said it was sending senior pilots (FC), engineers (MT) and supervisors to inspect operations and carry out training with staff from China Eastern Airlines (CEA), Okay Airways (OKA), and Xiamen Air (XIA). The (CAAC) said it was taking the action due to what it described as a "landslide of bad safety conditions."
Private carrier Okay Airways (OKA) was involved in an incident in which the tail of a passenger aircraft scraped the runway as it came into land at Nanning airport in S China's Guangxi Zhuang Autonomous Region. In a similar incident, the tail of a Xiamen Air (XIA)'s 737-800 also touched the ground, which could have led to a serious accident.
On May 1, an A319 passenger aircraft belonging to China Eastern Airlines (CEA) suffered damage to its tail and tires during an aborted landing during bad weather at an airport in Kangding in SW China's Sichuan Province. After missing the approach, the aircraft flew back to Chengdu.
Experts say most of the incidents were the result of pilot (FC) error, often the result of fatigue or lack of training. They also said the rapid expansion on flights and fierce competition has led to a shortage of pilots (FC), with some airlines cutting back on training and introducing more overtime.
Official data shows there have been 7 air accidents due to negligence in the 1st quarter of this year alone.
Meanwhile, 2 foreign airlines operating in China have been criticized by the (CAAC). Emirates (EAD) and Orient Thai Airlines (OTH) were ordered to take immediate remedial action after 2 incidents, in January and April.
The (CAAC) said it would also evaluate the performance of other foreign airlines that operate on the Chinese mainland.
June 2016: Xi’an-based Joy Air plans to change its main operating base to Tianjin in an effort to further consolidate regional operations with Tianjin-based Okay Airways (OKA).
Joy Air will still maintain its brand, but its regional business will merge with (OKA).
Chinese regional carriers have recently reported consecutive operating losses because of higher operating costs and lack of market demand.
In 2008, Shanghai-based China Eastern Airlines (CEA) launched Joy Air in conjunction with (AVIC). At that time, (CEA) held a 40% stake in the regional joint venture (JV), while (AVIC) held the remaining shares. However, in 2009 (CEA) transferred 35% of those shares to (AVIC). Last year, (CEA) decided to sell its remaining 5% stake in Joy Air for CNY35 million/$5.5 million, because of Joy Air’s consecutive operating losses.
Joy Air operates a fleet of 9 MA60 regional aircraft; in 2014 it ordered 60 of the type, comprising 30 firm orders and a letter of intent for 30. Deliveries of the 60 aircraft began in 2015.
Launched in 2005, Okay Airways (OKA) was the 1st Chinese carrier to introduce the MA60. It operates a total fleet of 32 airplanes, comprising 13 MA60s, 18 Boeing 737 series aircraft and 1 Boeing 737 freighter. (OKA) operates >20 domestic regional routes in NE China and has opened international routes to neighboring countries, including Japan and Korea.
November 2016: Okay Airways (OKA) has filed an application to the Civil Aviation Administration of China (CAAC), seeking rights to further expand its network to Japan from January 2017. Pending government approval, (OKA) will operate a weekly Changsha to Hakodate route and a 2x-weekly Changsha to Okinawa route.
(OKA) plans to launch 2x-weekly flights between Tianjin and Aomori.
All services will be operated using Boeing 737-800s. Okay Airways (OKA) will be the only operator on all 3 routes.
January 2017: 737-9KFER (4113, B-1581) delivery.
November 2017: Okay Airways (OKA) finalized an order for 5 787-9 Dreamliners valued at $1.4 billion at list prices, which it will use to expand into long-haul operations from Beijing’s new airport which is scheduled to open in 2019. In July, (OKA) reached an agreement with Beijing Capital Airport Group to open a base at the new facility.
(OKA), which is China’s 1st privately run carrier, is headquartered in Beijing with its main base at Tianjin Binhai International Airport. The company operates a total fleet of 26 737s on 70 domestic and regional destinations. To date, Boeing has secured >1,280 orders for the 787 from 70 customers worldwide, with >600 already in service.
September 2018: AviaAM Leasing, a global aviation holding company engaged in commercial airplane acquisition, leasing and sales, has announced that its joint venture with the Henan Civil Aviation Development and Investment Company (HNCA) (AviaAM Financial Leasing China) has recently delivered a brand new Boeing 737-800 airplane to its 1st client in China: Okay Airways (OKA).
On September 21, 737-8KF (7122-61407, /18 B-206E) from Boeing's assembly line in Seattle, USA flew to Zhengzhou, China, where it was officially delivered to (OKA). (OKA) will operate the 186Y economy seats configured airplane with 2 (CFM56-7B26) engines for the next 12 years under the operating lease agreement. This airplane delivery was the 19th and last of this type on order. It bears the new Chinese registration format, with an alphabetical character at the end.
Click below for photos:
OKA-737-800 - 2016-11.jpg
OKA-737-800 and 737-900 - 2015-07.jpg
OKA-737-86N - 2013-10
OKA-737-900ER - 2015-02
OKA-MA60 - 2012-11
1 737-3Q8F (CFM56-3C1) (2133-24961, /91B-2117 - SEE PHOTO), EX-(VAR), (ILF) LSD 2006-02. COOPERATION WITH FEDEX (FED). FREIGHTER.
2 737-300F (CFM56-3), EX-(BEJ) CONVERSION TO FREIGHTER AT JINAN BY (STAECO). COOPERATION WITH FEDEX (FED). FREIGHTER.
2 737-8AS (CFM56-7B24) (1418-33554, /03 B-5575; 1447-33560, /04 B-5578), 2011-03. WITH WINGLETS. 189Y.
1 737-8AS (CFM56-7B24) (1438-33557, /04 N594MS), EX-(RYN), (GEF) LEASED 2011-01. WITH WINGLETS. 189Y.
0 737-8GQ (CFM56-7B27) (2428-35793, B-5366; 35794, B-5415), (PSS) LEASED. RETURNED.
1 737-8KF (7122-61407, /18 B-206E), WITH WINGLETS. 175Y.
1 737-8Q8 (CFM56-7B27) (2452-30733, /07 B-5367), (AWW) LEASED 2007-12. WITH WINGLETS. 175Y.
1 737-8Q8 (CFM56-7B26E) (41789, B-5841), (ILF) LEASED 2013-07. WITH WINGLETS. 175Y.
1 737-86N (CFM56-7B26) (2884-35643, /09 B-5571), 2010-09. WITH WINGLETS. 177Y.
1 737-86N (CFM56-7B26) (41262, /13 B-5842), (GEF) LEASED 2013-10. WITH WINGLETS. 177Y.
2 737-8HO (CFM56-7B26) (3491-37934, /10 B-5562; 3498-37934, /10 B-5573), 2010-12. WITH WINGLETS. 189Y.
1 +9 ORDERS 737-800 (CFM56-7B27) (B-5577), WITH WINGLETS:
35 ORDERS 737-800 (CFM56-7B), (AVF) 96 MONTHS LEASED. 186Y.
1 737-800 (CFM56-7B) (B-7373, 2016-03).
1 737-800 (CFM56-7B26) (61407, 2018-09), AVIAAM LEASING LEASED. 186Y.
3 737-83N (CFM56-7B27) (1500-30673, /01 N333TZ, 2006-03; 1404-30679, /01 B-2865, 2006-03 (SEE PHOTO); 2013-07), EX-(AAT), (ILF) LEASED. 175Y.
1 737-86N (CFM56-7B27) (38042, B-5843), (GEF) LEASED 2013-08.
1 737-86N (CFM56-7B27) (41262, B-5842), 2013-10.
2 +4 ORDERS 737-9B5 (CFM56-7B24) (999-29987, /01 B-5110, 2005-03), (KAL) WET-LEASED, 8C, 180Y.
5 +3 ORDERS 737-9KFER (CFM56-7B) (4113, B-1581, 2017-01; 4114, B-1739, 2015-01; 4118, B-1521, 2015-09; 4119, B-1522, 2015-09), EX-(N1786B), WITH WINGLETS. 200Y.
1 +5 ORDERS 737 MAX 8 (LEAP-1B) (60704, B-1485), EX-(N1786B), (GECAS) (GEF) LEASED.
2 ORDERS (2018-02) 737 MAX 8 (LEAP-1B), (GEF) LEASED:
5 ORDERS 787-9 DREAMLINER:
13 +50 ORDERS AVIC MA60 (2 IN 2008-10; 2 IN 2010-08; 2 IN 2011-07) (0509, /10 B-3709; 0510, /08 B-3710; 0714, /11 B-3440; 0715, /11 B-3433; 0809, /12 B-3711; 0902, /12 B-3705; 0911, /12 B-B-3705; 0913, /12 B-6712, 0914, /13 B-3713; 0915, /13 B-3715 1004, B-3722, 2012-13). 50Y.
9 MA60, JOY AIR REGIONAL OPERATIONS 2016-06 AND ON. 50Y.
Click below for photos:
WANG JUNJIN, CHAIRMAN (2008-12), JUNEYAO (JYA) GROUP.
WANG SHUSHENG, CHAIRMAN & CHIEF EXECUTIVE OFFICER (CEO) (OKA).
LI ZONGLING, PRESIDENT.
LIU ZONGHUI, EXECUTIVE VP
LIU JIEYIN, EXECUTIVE VP.
ZHENG CHANG JIN, STRATEGIC PLANNING MANAGER.