AviaAM Leasing and HNCA contract signing

Lithuania-based aircraft leasing company AviaAM Leasing has signed an agreement for a joint venture with China's Henan Civil Aviation Development and Investment Company (HNCA).

The joint aircraft leasing company will be based in China's central province of Henan and will build and manage a fleet of narrow-body aircraft worth of up to USD 900 million.

"At the moment, China and other thriving economies of Asia serve as the engine of global aviation. With double-digit air traffic growth, local carriers will require thousands of new airplanes over the next 15-20 years." Tadas Goberis, chairman of the management board and CEO at AviaAM Leasing, said in a press release on Tuesday.

"As one of the world's leading aircraft leasing companies, we are bringing our experience and market expertise to support fleet expansion in the region. In the meantime, our partners at HNCA will provide access to favourable financing terms required for the join venture's fleet development," he said.

There are currently over 20,000 commercial aircraft flying around the world, with over 40% of them operated under leasing agreements, the company said.

Two Lithuanians and Norwegian returned to Lithuania in spy swap with Russia

Two Lithuanians and a Norwegian were returned to Lithuania on Friday as part of a spy swap with...

Aviation bomb found and defused in Vilnius

An aviation bomb was found and later neutralized in the Zverynas area of Vilnius on Thursday night.

President pardons 2 Russian spies opening the way for swap with Moscow

President Gitanas Nauseda has granted pardons to two Russian citizens jailed in Lithuania for...

Skusevicius appointed ambassador to Canada

Lithuanian President Gitanas Nauseda on Thursday appointed Deputy Foreign Minister Darius Skusevicius...

MPs reject President Nauseda's second veto

The Lithuanian parliament overrode on Thursday a presidential veto on its decision to add two road...