LCI signs agreement with CMIFL
LCI has signed a cooperation agreement with CM International Financial Leasing Corp., Ltd (CMIFL).
CMIFL, which launched leasing activities in June 2015, and has placed a large order for light Airbus Helicopters, will be utilising LCI’s global network and proven track record to help it grow in China and internationally.
ALSO READ: LCI agrees two multi-year debt facilities
China today has a relatively low level of helicopter ownership and the market is expected to grow around 30% a year until 2020 with a focus on EMS (Emergency Medical Services), SAR (Search and Rescue), para-public and VIP services.
“The Chinese helicopter market is opening up to leasing and CM International Financial Leasing Corp is an ideal partner.”
Mike Platt, chief executive officer of LCI said: “The Chinese helicopter market is opening up to leasing and CM International Financial Leasing Corp is an ideal partner. The synergies between our two companies will enable us to grow in the China whilst aiding CM International Financial Leasing Corp in its growth both in its home market and globally. We are already jointly working on a number of leasing opportunities.”
“LCI and CM International Financial Leasing Corp have a range of orders covering a wide spectrum of helicopter types, and bring to each other complementary skills and experience which will help us both grow in the burgeoning China market and beyond,” added Platt.
“We are honoured that such an experienced lessor as LCI has chosen CM International Financial Leasing Corp as a partner.”
Thomas Tang, executive vice president and CFO of CM International Financial Leasing Corp., Ltd, said: “We are honoured that such an experienced lessor as LCI has chosen CM International Financial Leasing Corp as a partner. Our deep-rooted knowledge of the China marketplace will aid LCI in its growth here, whilst their global expertise will help enable our new leasing business to expand beyond China.”
LCI is part of the Libra Group which has a number of common interests with CMIFL’s parent company CMI including shipping and renewable energy, which make this initial agreement a possible enabler for further collaboration in future.
LCI has a total fleet of 90 delivered and ordered helicopters, including AW139, AW169 and AW189 and Airbus Helicopters H175 and H225s.
In February 2015, LCI Helicopters ordered an additional 11 AgustaWestland AW139, AW169 and AW189 aircraft valued at $125 million.
LCI’s helicopters are currently in operation across four continents – Asia, Australasia, Africa and Europe.