ICBC Aviation names new head of EMEA | News | Airfinance Journal

ICBC Aviation names new head of EMEA

Export:

Chao Wu has been promoted to head of EMEA at ICBC Aviation Leasing.

He was previously vice-president of sales and marketing, based in Dublin, a role he had held since 2017.

Before entering aircraft leasing, Wu was involved in aircraft design and engineering, including more than six years at Airbus in Toulouse, where he was doing design and certification work for the A350XWB programme.

During his time at ICBC Aviation, Wu has been instrumental in growing the platform in the EMEA region, including several landmark deals he closed involving Air France-KLM airlines, IAG Group carriers, Qatar Airways, Middle East Airlines and Flydubai.

During his tenure, ICBC Aviation’s EMEA fleet grew by 50%; its customer base increased by 40%.

In 2021, ICBC Aviation agreed its 100th operating lease in the EMEA region, with leases to 25 different customers.

By the first quarter of 2022, this had increased to 111 aircraft on lease to 26 customers in EMEA.

New technology aircraft comprise 57% of the firm’s EMEA portfolio.

The Chinese bank-backed lessor has expanded rapidly over the past decade, growing its fleet to 455 in-service aircraft at the end of 2021, not including committed deals, which makes it the sixth-largest aircraft lessor by fleet count, as per Airfinance Journal's latest Leasing Top 50, following Aercap, Avolon, BBAM, SMBC Aviation Capital and Nordic Aviation Capital.

Just before year-end 2021, ICBC Aviation delivered the first of two A220-300 aircraft to Air France. The aircraft, acquired via a sale and leaseback (SLB) transaction with the airline, was the first A220 aircraft in the ICBC Aviation portfolio.

ICBC Leasing was the lessor most heavily involved in 2021 in Air France-KLM’s fleet renewal and expansion plan, delivering nine aircraft to the group through the year from the A220, A350, 737 and Embraer E2 families.

Certain of those aircraft came from ICBC Leasing’s orderbook, while others were acquired through SLB transactions or transitioned from previous operators.

Wu said it is “executing a clear strategy to invest in the most technologically advanced, but more importantly the most environmentally friendly aircraft”.

He confirms that in addition to the nine aircraft delivered to Air France-KLM in 2021, ICBC Aviation will place another eight aircraft with the group in 2022 and beyond, including more A220s for Air France and additional E195-E2 aircraft for KLM.

Other recent deals closed under Wu’s stewardship include an A350 SLB with Iberia in March.

Airfinance Journal data shows that ICBC Leasing’s largest airline customers by number of aircraft placed are China Southern Airlines, Shandong Airlines, Air China and Xiamen Airlines, followed by Garuda Indonesia-linked Citilink, China Eastern Airlines, Asiana Airlines and Qatar Airways.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus ultrices urna eu consequat pulvinar. Suspendisse malesuada scelerisque iaculis. Cras ut facilisis arcu, posuere efficitur nisi. Fusce dictum tortor ac nibh rhoncus auctor. Praesent nunc felis, elementum vel orci quis, sodales tincidunt nisi. Vestibulum vestibulum vel erat quis feugiat. Nam nec pulvinar velit. Nunc feugiat felis lacus, non condimentum urna interdum vitae. In laoreet hendrerit commodo. Sed diam arcu, tincidunt quis augue ac, venenatis consequat dui. Quisque maximus venenatis erat, sed malesuada quam malesuada at. Aenean non quam a ex vulputate laoreet. Praesent eget neque convallis, rhoncus lorem a, venenatis metus. Maecenas sed malesuada purus.

Integer vel neque vel odio tempor laoreet. Praesent vel malesuada dolor, sit amet aliquam augue. Cras magna tortor, ullamcorper nec tristique ac, accumsan quis metus. Integer in magna sit amet leo vulputate vulputate. In pretium quam libero. Cras a pulvinar arcu, et rutrum orci. Proin euismod, justo quis scelerisque porttitor, purus odio dignissim ex, eu rhoncus lorem dolor sit amet mi. Pellentesque in massa vel mauris tempus euismod. Aenean efficitur vestibulum arcu ut elementum. Nam rhoncus ligula vel enim iaculis, quis luctus dui interdum. Nulla erat mi, lacinia eu orci ut, hendrerit fermentum lorem. Sed non gravida quam. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Nulla bibendum erat odio, pharetra lobortis eros blandit a.

In et ultrices ante. Vestibulum consequat libero quis quam tempor, efficitur accumsan lacus sollicitudin. Class aptent taciti sociosqu ad litora torquent per conubia nostra, per inceptos himenaeos. Phasellus ac est lacus. Quisque in interdum urna, non pulvinar sem. Duis tristique tortor vel urna commodo tincidunt sit amet ut sem. In sapien turpis, porta vitae neque in, varius egestas erat.

Interdum et malesuada fames ac ante ipsum primis in faucibus. Donec quis est vel ante facilisis efficitur. Pellentesque tincidunt odio eget lacinia vestibulum. Aliquam erat volutpat. Ut ac ipsum non nisi convallis eleifend et ornare lectus. Pellentesque diam nulla, dapibus quis convallis sed, posuere at urna. Proin tincidunt tincidunt nibh, id molestie est. Integer iaculis, leo sit amet pulvinar pellentesque, tellus elit vehicula ipsum, eget vulputate dui tortor vitae sem. Proin rhoncus venenatis tellus, vitae blandit ipsum malesuada sed. Morbi gravida magna hendrerit faucibus imperdiet. Ut bibendum a massa at efficitur. Donec egestas urna urna, sit amet mattis erat fringilla sit amet. Integer scelerisque enim sed odio semper molestie. Sed tincidunt malesuada nulla a fringilla. Nullam suscipit, justo nec facilisis efficitur, arcu mauris finibus lorem, ut egestas mi purus nec neque. Nunc nec euismod est, ac egestas neque.

Vivamus sit amet pretium quam, vitae fringilla dolor. In nec ligula arcu. Fusce a tortor leo. Sed blandit leo quis turpis sodales, eget tincidunt tortor ultrices. Fusce scelerisque eros quis quam vestibulum tempus. Praesent sodales aliquam nibh vel fermentum. Quisque vel diam sit amet sem convallis interdum. Proin ac velit molestie, malesuada tellus vitae, tempus est. Sed facilisis ut enim ac pretium. Mauris scelerisque fermentum risus, nec ultricies enim finibus vel. Aenean sem enim, dictum mollis aliquet nec, consequat nec nisl. Duis aliquam a lectus vitae ornare.


Regional Snapshot

Related Data

Transaction Snapshot
Air Company | Bond issue | 01-24 | $1.5bn
Financial Close:
11/02/2024
SPV:
Some Aviation Trust
Value:
$1,500.00m USD
Full Details