HispanicBusiness

BEIJING, and AMSTERDAM, Netherlands, and SHANNON, Ireland, Oct. 26 /PRNewswire/ -- China Aviation Supplies Import & Export Group Corporation (CASGC), AerCap, and Calyon Airfinance, are pleased to announce that they have agreed to jointly invest in a new aircraft operating lease venture initially dedicated to the People's Republic of China market.

The venture comprises Dragon Aviation Leasing Company Limited, based in Beijing, People's Republic of China, and AerDragon Aviation Partners, based in Shannon, Ireland. The companies have been created to respond to the growing demand for aircraft in the world, especially in China and other Asian countries, and will initially focus their activities on narrowbody aircraft.

According to estimates by airframe manufacturers, the Chinese domestic aviation market may require up to 2600 additional aircraft over the next 20 years. Mr Li Hai, Chairman of the CASGC commented: "We are very pleased about the joint commitment of three of the major players in aviation finance to this growing market. Our focus on this market is expected to bring additional benefits to the venture's future customers and provides the opportunity for rapid growth and profitability for all stakeholders through the development of the Chinese aircraft leasing market." The new venture expects to build a portfolio of $1billion worth of aircraft in the next few years.

Each partner will contribute its own expertise in developing the venture, CASGC through its key position in the Chinese aviation market, AerCap through the management of the aircraft, and Calyon as one of the key institutions in the aviation financing market.

About CASGC

CASGC, founded on the basis of former China Aviation Supplies Import & Export Corporation (CASC) is a comprehensive service provider for the Chinese aviation industry. The business range of CASGC covers import & export, lease, maintenance and consignment of aircraft, engines, aviation parts, ground support equipment, specialty vehicles, and other related business. Since its establishment in 2002, CASGC signed commitments for 519 aircraft for Chinese airlines.

About AerCap

AerCap is an integrated global aviation company with a leading market position in aircraft and engine leasing, trading and part sales. AerCap also provides aircraft management services and performs engine MRO services through its certified repair station. AerCap has offices in The Netherlands, Ireland and the United States.

About Calyon Airfinance

Calyon Airfinance started investing in aviation more than 18 years ago, and is fully owned by Calyon, Credit Agricole's corporate and investment bank. Calyon, one of the largest institutions in the aviation financing market , has developed over thirty years of expertise in financing, structuring, leasing, securitization, advising, hedging and remarketing for the benefit of worldwide passenger and cargo airlines, aircraft and engine lessors, airports, manufacturers and all airline related service providers.

Contacts CASGC Lu Xiao Song Deputy Director Tel: +86 10 6568 3848 Fax : +86 10 6568 6903 Email: luxs@casc.com.cn AerCap Frauke Oberdieck Corporate Communications Tel: +31 20 6559616 Email: foberdieck@aercap.com Calyon Airfinance Anne Robert / Delphine Hochain Press relations Tel: +33 1 41 89 03 77 and +33 1 41 89 66 54 Email: anne.robert@calyon.com and delphine.hochain@calyon.com

This press release may contain forward-looking statements that involve risks and uncertainties. In most cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms or similar terminology. Such forward-looking statements are not guarantees of future performance and involve significant assumptions, risks and uncertainties, and actual results may differ materially from those in the forward-looking statements. AerCap