Avia Solutions Group seals €1 billion deal with Chinese company

Lithuania‘s Avia Solutions Group and AviaAM Leasing has signed a €1 billion cooperation agreement with the Henan Provincial Civil Aviation Development and Investment Company, China‘s second largest civil aviation company.

Under the agreement, AviaAM Leasing, which manages a €4 billion global fleet of planes, and the Chinese company are to set up a joint venture that will lease Boeing 737 and Airbus A320 aircraft, and provide consulting services to Asian airlines.

The deal came during a trade mission to Lithuania by a Henan provincial government delegation who are interested in opportunities to cooperate iny pilot training, aircraft maintenance and tourism.

“This Chinese provincial delegation’s visit is important not only to consolidate both companies’ commitment to the implementation of joint projects, but also for the whole Lithuanian transport and tourism sector. As members of the European Union and with all the necessary certificates, Lithuanians are extremely attractive partners Asian countries, whose economies, tourism and aviation sectors and their potential is constantly expanding. I think that in the future more and more often we will hear about the joint Lithuanian-Chinese projects, ” said Avia Solutions Group board member Zilvinas Lapinskas.

Communications Minister Rimantas Sinkevičius discussed the Vice-Governor of Henan Zhao Jiancai economic and cultural cooperation and joint projects in passenger and cargo areas.

The Chinese delegation visited FL Technics aircraft maintenance center in Kaunas airport owned by Lithuanian business group Avia Solutions Group and BAA Training pilot training center in Vilnius.

During the meetings, HNCA and Avia Solutions Group leaders agreed to expand cooperation and discussed the planned joint projects in various fields, including the training of pilots, aircraft repair and tourism.

It is estimated that by 2034 the Asian-Pacific region will need 500,000 new pilots and aircraft mechanics. The tourism market in China is also growing steadily. More than 120 million Chinese have travelled outside of China in 2015 alone, where they have spent €104 billion.

Avia Solutions Group is now cooperating with the Chinese in developing an attractive tourist route for Asian travellers.