Airbus Helicopters has signed two deals with China-based CMIG Leasing (previously known as CMIFL), which will see the operator become the launch customer of the H160 medium twin in China and take delivery of further H125 light singles.
The letter of intent for one H160 was signed at the China Airshow in Zhuhai. The lessor expects to find an executive air transport specialist to operate the aircraft. “We are confident that the H160 will have a bright future in China,” said Tang Min, CMIG Leasing president. The H160 is at the flight-testing stage and its first delivery (not necessarily to CMIG) is planned for 2019.
As part of a 2015 framework agreement for 100 Ecureuil family helicopters, CMIG also signed a firm order for an additional batch of H125s. The number is undisclosed but said to be “in line” with the framework agreement. The first firm order was for 10 H125s and seven have been delivered so far. CMIG is targeting local general aviation companies, mainly for civil rescue and emergency medical services, according to Airbus and CMIG.
Founded in April 2015, CMIG Leasing was jointly established by China Minsheng Investment Group (CMIG) and South Korea’s Hana Bank. So far, it has been offering finance leases. CMIG intends to grow into operating leases, an arrangement under which the lessor retains ownership of the helicopter, with a number of benefits for the lessee. Operating leases are what companies like Milestone Aviation, Waypoint Leasing and LCI Helicopters have been promoting since the early 2010s.
LCI last year signed a cooperation agreement with CMIG. The latter company “will be utilizing LCI’s global network and proven track record to help it grow in China and internationally.” In return, LCI expects “synergies” that will enable it to grow in China.
CMIG has a one-third stake in Luxembourg-based business aviation giant Luxaviation.
