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Leading Non-State Airway Company Rents 5 Planes

Posted on: Monday, 13 February 2006, 09:00 CST

Leading non-state airway company rents 5 planes

SHENZHEN, Feb. 9 (Xinhua) -- Shenzhen Airlines, China's largest non-state owned airline, based in this special economic development zone of southern Guangdong Province, has recently signed letters of intent to lease planes from two partners in Britain and the United States.

According to the accords, Shenzhen Airlines will rent three A320s from RBS based in Britain and two Boeing 737-800s from CIT based in the United States.

CIT are the world's third and RBS the fourth largest plane leasers.

Sources with Shenzhen Airlines said the three A320s would be put into operation in May and September 2007 and January 2008 respectively.

The two Boeing 7370-800s would start service in October and November this year respectively, the sources added.

China began to encourage private capital to enter civil aviation sector in early 2005. Last June, Shenzhen Airlines became the nation's largest non-state owned airline after having 65 percent of its stake auctioned to two private companies in Guangdong.

Last year Shenzhen Airlines carried 5.73 million passengers and 83,000 tons of cargo, up 18.5 percent and 20 percent, respectively, over the previous year. It garnered more than 100 million yuan (12.3 million U.S. dollars) in profits.

Source: Xinhua News Agency - CEIS

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