Announcement on aircraft leases
Press release on their website - six a/c secured (assuming LOI is a genuine commitment), first one arriving in December.
MACAU, 9th August 2007
Macau Asia Express has confirmed that it has signed a Letter Of Intent to lease six A320-200 aircraft from an affiliate of Aircastle Limited (“Aircastle”). The arriving fleet will be utilized to develop a new, single-class, low-fare route network between Macau and a number of cities in PRC, Japan, Vietnam and other points in Asia in 2008.The aircraft are powered by CFM-56 engines.
The first aircraft will be delivered to Macau in December 2007, with the delivery of the sixth aircraft scheduled for the first quarter of 2009. The airline intends to grow further to a fleet of eleven aircraft by the end of 2010.
Francis Wai – the airline CEO - said “We are delighted to have been able to source an initial ‘sister fleet’ of this size, especially in the current marketplace in which aircraft supply is extremely limited. An operating lease arrangement of this scope delivers the initial momentum to begin our growth and enables us to concentrate on adding new routes and additional frequencies in line with customer needs. We are very focused on bringing more people to visit Macau and its rapidly developing range of gaming, leisure and entertainment facilities. So it’s great news for us, the travelling public and Macau’s economy at large.”
Commenting on the transaction Aircastle’s Chief Executive Officer Ron Wainshal remarked, “The growth potential in Macau’s air travel market is significant and Aircastle is excited to be working with Macau Asia Express to develop this opportunity.”