By Yuling Chen, EDITOR

Chongqing Airlines has imported its first A320NEO, which landed in Chongqing Jiangbei International Airport in southwest China’s Chongqing municipality on September 21, 2018. According to the company, it is the first time for Chongqing Airlines to import aircraft by special purpose vehicle (SPV) and it is the third aircraft for China (Chongqing) Free Trade Zone (FTZ) via bonded operating leasing model. 

The first A320NEO introduced by Chongqing Airlines lands in Chongqing Jiangbei International Airport on September 21, 2018. (Photo by Luo Bin)

Spring Airlines completed the delivery of A320 from overseas by way of SPV in 2017, making breakthrough in aircraft bonded leasing and taking the lead in this regard in the third batch of FTZs.

Generally speaking, aircraft leasing is in the forms of direct lending, finance leasing and operating leasing. And Chongqing Airlines chooses the third way for its aircraft leasing. The lease can save the company a bundle on its payment and increase it operating capital flow.

A source from Chongqing Airlines said that the aircraft-introducing program is related with financial service, aviation industry, transport and logistics under China-Singapore (Chongqing) Strategic Initiative on Strategic Connectivity. Moreover, it introduces the most aircraft in terms of a single program, compared with the company’s previous programs. In 2018, the company will complete the delivery of six others.

In the early days of this year, Chongqing Airlines has signed agreement with BOC Aviation Limited, a Singapore based company. And the latter announced that it would lease seven Airbus A320NEO aircraft to Chongqing Airlines, with all aircraft scheduled for delivery through Chongqing bonded ports in 2018. The first A320NEO has been delivered in Hamburg, Germany, on September 20, and arrived at Chongqing Jiangbei International Airport the next day. The aircraft is to be operated for the flights to Guangzhou and Shenzhen.

The aircraft has a typical seating capacity of 166 according to Airbus official website. Its cabin equipment, device and seat design have been improved substantially. Seat width increases to 18 inches. USB charging ports and high definition TVs are available, which bring better experience for passengers.

A320NEO represents an improved model concerning its fuel-saving and environment-friendly effects. It has contained many advanced technologies in aviation industry. The adoption of new and high-efficient engines helps the aircraft more cost-effective and environment-friendlier, with per seat fuel consumption rate decreasing by 15%, noise down by almost half and the annual emission of CO₂ reducing 5,000 tons.

Source: Chongqing Daily