Dragon Aviation Leasing Takes Delivery of First of 13 A320s

Dragon Aviation Leasing, a Beijing-based aircraft leasing company, has taken delivery of its first directly purchased Airbus aircraft. The aircraft, the first of 13 A320s that the company has ordered, is leased to Air France.

The company is a joint-venture of China Aviation Supplies Holding Company (CAS), AerCap and Calyon Airfinance. Dragon Aviation Leasing was created in 2006 in response to the development of the aviation industry in China. The new aircraft leasing company aims at answering worldwide market demand for aircraft, focusing on China and other Asian countries.

"The delivery of our first directly ordered Airbus aircraft marks an important step forward for the joint-venture's plans to build up a fleet of $1 billion worth of aircraft over the next few years. Although the current financial crisis may have negative effect on the air traffic industry globally, we still see growth potential. The long-term economic prospects for China and other Asian countries are expected to drive continued demand for new, fuel-efficient narrow-body aircraft such as the A320 Family for many years to come," said Jean-Louis Chevrot, Chief Executive Officer of Dragon Aviation Leasing.

"We are proud to have Air France as the customer of one of our A320 Aircraft. Our strategy is to invest in aircraft with low operating costs, which in return will play a positive role in improving the profitability of our clients."

This summer Airbus will deliver the first A320 assembled at the Final Assembly Line China (FALC) in Tianjin to Dragon Aviation Leasing.

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