AerCap Holdings N.V. (NYSE: AER) has signed a lease agreement for twenty new aircraft with Chinese carrier, Loong Air, the company said.
The signing ceremony took place in Hangzhou between AerCap Chief Executive Officer, Aengus Kelly and Loong Air Chairman, Liu Qihong. This agreement represents the largest deal ever signed by a lessor with a Chinese private airline.
Loong Air is provides passenger and cargo transportation services from its base at the Hangzhou Xiaoshan airport. Since the inception of its passenger services on December 29, 2013, its fleet has grown into 22 aircraft. It operates more than 100 routes of passenger and cargo services across China and Southeast Asia, 39 of which originate from Hangzhou.
AerCap provides aircraft leasing with, as of December 31, 2016, 1,566 owned, managed, or on order aircraft in its portfolio. The company serves approximately 200 customers in approximately 80 countries with comprehensive fleet solutions. It is headquartered in Dublin, and has offices in Amsterdam, Los Angeles, Shannon, Fort Lauderdale, Miami, Singapore, Shanghai, Abu Dhabi, Seattle, and Toulouse.