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Aircraft leasing business expands in Nansha

Updated: 2019-07-05

China Southern Airlines recently welcomed the first Airbus A350 aircraft with the registration number B-308T from Toulouse, France, as it landed at Guangzhou Baiyun International Airport. It is the 113th aircraft introduced by Nansha in Guangdong provincial capital Guangzhou through financial leasing.


The first Airbus A350 aircraft with the registration number B-308T lands at Guangzhou Baiyun International Airport. [Photo/gznsnews.com.cn]

The first comprehensive bonded zone, Guangzhou Baiyun Airport Comprehensive Bonded Zone's second stage, approved by the State Council, was officially accepted on June 25.

It has a special area for aircraft leasing, which is the only special customs supervision zone in China other than Tianjin that has this special area.

The world's first "Hong Kong + Bonded Port Area" dual Special Purpose Vehicle (SPV) cross-border sub-leasing aircraft landed in the district earlier this year, opening the cooperation channel between the Chinese mainland and Hong Kong in the field of aviation financial services for the first time.

With this model, leasing companies can enjoy Hong Kong financing advantages and new tax incentives for aircraft leasing.

As soon as the aircraft entered the Nansha Bonded Port Area, the project company enjoyed the import duty and convenient customs clearance policy.

The ownership of the leased asset is retained in Hong Kong and will be transferred in Hong Kong or re-leased in a new transaction.

The airport comprehensive bonded zone is the only special customs supervision area in Guangdong province that relies on the construction of international aviation hubs. It is also one of the few comprehensive bonded zones in the country that include an airport operation area.

The model helps to further rationalize the customs clearance process of Guangzhou's aviation ports, and provides more space for the future development of aviation logistics, cross-border e-commerce, aircraft bonded financing leasing, and aviation maintenance and manufacturing.

The headquarters of large-scale professional aviation leasing companies such as China Southern Airlines International Leasing and Tianhe International Leasing have come to Nansha, and Bohai Leasing, Kunlun Financial Leasing and others enterprises have set up SPV companies in Nansha to carry out the aircraft leasing business.

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