Private carrier leases China-made aircraft
20 July 2007
Okay Airways, China's first private airline, has signed a lease-to-buy contract for 10 MA60 turboprop aircraft produced by China Aviation Industry Corp I (AVIC I) in Xi'an, Xinhua reported (in Chinese). The contract, worth US$176 million, is the company's first commercial aircraft leasing deal. It is also the first time that the MA60 has entered the Chinese aviation market. "This is the first time the MA60 entered the domestic market through financial leasing and it will lay a good foundation for the aircraft to serve the Chinese market in large numbers in the future," said Lin Zuoming, general manager of AVIC I, at the signing ceremony.