Hainan Airlines Holding (HAH) and Avolon have announced an agreement for the operating lease of five A320-200N aircraft, to be delivered before the end of 2025, according to a Shenzhen Stock Exchange filing.
According to the August 31 disclosure, the group will operate the five A320neo for a 12-year lease period, with a total lease due of about USD252.72 million (or USD345,000 to USD360,000 per month). Ownership of the aircraft belongs to Avolon Ireland 3, an SPV of Avolon, which is in turn a Bohai Leasing subsidiary.
"This transaction will strengthen the company's cooperative relationship with Hainan Airlines Holding, help Avolon expand its share of the Asian aircraft leasing market, help improve the company's future annual performance, and have a positive impact on the company's future annual profits," Bohai Leasing said in its 2024 semi-annual report, also released on August 31.
The notice did not disclose which of the carriers within the holding will receive the Airbus airframes. Nonetheless, ch-aviation understands the aircraft will be placed with Hainan Airlines (HU, Haikou), which currently operates a single A320-200N, its only A320neo, in its fleet of 220 aircraft. Other airlines that are part of Hainan Airlines Holding are Air Changan, Air Guilin, Capital Airlines (China), Deer Jet Beijing, Deer Jet Shanghai, Fuzhou Airlines, GX Airlines, Hong Kong Airlines, Lucky Air (China), Suparna Airlines, Tianjin Airlines, Urumqi Air, and West Air (China).
The ch-aviation fleets module shows that Avolon already leases eleven aircraft to Hainan Airlines, nine to Capital Airlines, one to Fuzhou Airlines, seven to Lucky Air, and seven to Tianjin Airlines. This tally includes two A320-200Ns placed with Lucky Air.
