The world‘s largest insurance and finance group Ping An – a new strategic partner for AviaAM Financial Leasing China
AviaAM Leasing, a global aviation holding company engaged in commercial aircraft acquisition, leasing and sales, has announced that its joint venture with the Henan Civil Aviation Development and Investment Company (HNCA) – AviaAM Financial Leasing China Co., Ltd. – has gained a new strategic partner. It is world‘s largest insurance and finance group Ping An Insurance (Group) Company of China, Ltd.
The giant of Chinese finance industry has invested 44 million USD (around 38 mln. Euro) to AviaAM Financial Leasing China Co., Ltd. through its relevant investment platforms. The transaction was finalized on the 27th August, 2018.
The bank belonging to PingAn group has already participated in one of the biggest projects of a Joint Venture by financing the purchase of a Boeing 777 aircraft. This type of aircraft is one of the biggest commercial wide-body airliners in the world powered with the world’s most powerful jet engine GE90-115B turbofan that can fit over 400 passengers per flight.
“Taking finance giant on board as a strategic-partner of our Joint Venture is a monumental step in the recognition of our business potential. Our new partner, without a doubt, will become a seal of approval for our aviation leasing services in the whole South-East Asia region. Since the investment, we have already begun planning and developing new aircraft purchase and leasing projects. We are sure that the partnership combining AviaAM Leasing’s expertise, HNCA competencies in the Chinese market, and the remarkable financial support from the Ping An Group, will give the Joint Venture unlimited opportunities for expansion,” says Tadas Goberis, Chairman of the Board of AviaAM Leasing and Board Member of AviaAM Financial Leasing China Co., Ltd.