Offshore aircraft leasing touches down in Guangzhou

An Airbus A321 aircraft purchased from Ireland arrives at the Begonia International Airport in Cambodia on Dec 11. [Photo/ycwb.com]

Guangzhou Huasheng No 1 Aircraft Leasing Co successfully carried out its first overseas aircraft leasing contract recently, with one if its Airbus A321 aircraft taking off from Ireland and landing at Phnom Penh International Airport in Cambodia. The aircraft was leased to Cambodia's Lanmei Airlines.  

It is the first deal for an overseas aircraft leasing business based at the Nansha Free Trade Zone (FTZ) in the greater Guangdong Pilot FTZ.

The business model that Guangzhou Huasheng No 1 Aircraft Leasing Co used gives domestic companies the ability to purchase overseas aircraft from overseas manufacturers and lease them to overseas airlines.

The Airbus 321 was purchased in Ireland and then immediately sent to Cambodia for the lessee.

The deal was completed in conjunction with the support from government departments such as the Guangdong Branch of State Administration of Foreign Exchange, Nansha customs and Nansha tax bureau.

As a great breakthrough for Nansha FTZ's leasing business under the Belt and Road Initiative, the financing leasing platform is of top priority.

Since the beginning of this year, the zone has attracted a total of 22 leasing aircrafts operated by companies such as Kunlun Financing Leasing, Shanghai Pudong Development Bank Financial Leasing and China Southern Airlines International Leasing, at a cost of over $1.4 billion.

To facilitate aircraft leasing projects, the zone has set up a specialized team of aircraft leasing professionals to provide whole-process services including business registration, foreign exchange registration, tax coordination and customs declaration.