14-Oct-2015 Source: LCI
LCI, the aviation leasing arm of the Libra Group, has signed a cooperation agreement with CM International Financial Leasing Corp., Ltd (CMIFL).
LCI, which has a fleet of 90 ordered and delivered AgustaWestland and Airbus helicopters, has chosen CMIFL as the partner to help it grow in the burgeoning helicopter leasing market in China.
CMIFL, which launched leasing activities in June 2015, and has placed a large order for light Airbus Helicopters, will be utilising LCI’s global network and proven track record to help it grow in China and internationally.
China today has a relatively low level of helicopter ownership and the market is expected to grow around 30% a year until 2020 with a focus on EMS (Emergency Medical Services), SAR (Search and Rescue), para-public and VIP services.
Mike Platt, Chief Executive Officer of LCI, says: “The Chinese helicopter market is opening up to leasing and CM International Financial Leasing Corp is an ideal partner. The synergies between our two companies will enable us to grow in the China whilst aiding CM International Financial Leasing Corp in its growth both in its home market and globally. We are already jointly working on a number of leasing opportunities.”
“LCI and CM International Financial Leasing Corp have a range of orders covering a wide spectrum of helicopter types, and bring to each other complementary skills and experience which will help us both grow in the burgeoning China market and beyond.”
Thomas Tang, Executive Vice President and CFO of CM International Financial Leasing Corp., Ltd, says: “We are honoured that such an experienced lessor as LCI has chosen CM International Financial Leasing Corp as a partner. Our deep-rooted knowledge of the China marketplace will aid LCI in its growth here, whilst their global expertise will help enable our new leasing business to expand beyond China.”
In addition to the helicopter market, LCI is part of the Libra Group which has a number of common interests with CMIFL’s parent company CMI including shipping and renewable energy, which make this initial agreement a possible enabler for further collaboration in future.
LCI’s total fleet is made up of 90 delivered and ordered helicopters, including the market-leading AgustaWestland AW139, AW169 and AW189 helicopters, and next generation Airbus Helicopters H175 and H225s. LCI is the launch customer for both the AW169 and the H225e. This follows a firm order LCI Helicopters made in early February 2015 for an additional 11 AgustaWestland AW139, AW169 and AW189 aircraft valued at US$125 million.
LCI’s helicopters are currently in operation across four continents – Asia, Australasia, Africa and Europe.