Air China, GA Telesis Joint Venture (GA Innovation China – Beijing Ji-An) Off to an Aggressive Start
Air China, GA Telesis Joint Venture (GA Innovation China – Beijing Ji-an) Off to an Aggressive Start
Beijing, China – GA Innovation China (“GAIC”), the newly formed joint venture between GA Telesis, LLC an Air China Ltd. has announced that they have signed a MOU with Apollo Aviation Management Limited for the consignment of two (2) next-generation Boeing 737-700s. The two aircraft will be delivered in 2013 and GAIC has the intention to disassemble the aircraft at AMECO in Beijing. The parts derived from the disassemblies will be warehoused in Beijing and targeted at the Asian market. This will constitute the most comprehensive independent 737NG inventory in the region.
On October 18, 2012, Air China and GA Telesis formed Beijing Ji-an as a 50/50 joint venture based in Beijing, PRC. The joint-venture is the first, China-based, integrated aircraft trader/lessor of mid-aged used aircraft and will also introduce a full-scale aircraft disassembly and redistribution business covering the entire Asian market. The new world-class operations will commence full-scale operations from Beijing Capital International Airport.
Air China is China’s exclusive national flag carrier for civil aviation, a member of the Star Alliance, the world’s largest airline alliance, and it was the official airline partner of the 2008 Beijing Olympic Games. It ranks first among domestic airline brands (evaluated by the World Brand Laboratory as having a brand value of RMB 47.856 billion or USD $7.52 billion in 2011) and it is leading ahead of its domestic competitors in passenger and freight air transport and related services. As of December 31, 2011, Air China (including holding companies) owns 432 Boeing and Airbus aircraft, with an average age of 6.77 years; operates a total of 282 passenger flight routes, including 71 international routes, 14 regional routes, and 197 domestic routes covering 30 countries and regions worldwide connecting 143 cities, including 43 international cities, 96 domestic cities, and four regions. In cooperation with Star Alliance member airlines, its service network is further extended to 1,160 destinations in 181 countries.
GA Telesis is one of the world’s largest providers of products, financial services, and supply-chain solutions to the aerospace industry. A global leader, GA Telesis provides structured financial services to the global aviation investment community and airlines while it also has extensive aerospace replacement component sales, distribution, and maintenance operations throughout the United States, Canada, the United Kingdom, and China. GA Telesis provides asset management services specializing in commercial aircraft and jet engine leasing and trading with over USD $1 billion in assets under management. GA Telesis is uniquely positioned to provide its products and services directly to its customers from the Americas, Europe, and Asia.
Apollo Aviation Group, founded in 2002, is one of the world’s leading institutional investment managers specializing in mid-life to mature aircraft and was ranked No. 1 worldwide among aircraft part-out specialists in 2010 and 2011 by Ascend – a leading aviation consultancy.
Apollo Aviation Group had more than $1 billion in aviation assets under management as of June 30, 2012. With offices in Miami, Dublin and Singapore, Apollo Aviation Group continues to actively grow its portfolio of in-production aircraft and engines.
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