New Joint Venture Buys First Airbus A320 and Leases it to JuneYao Airlines

(Beijing, China, February 15, 2007) -- Dragon Aviation Leasing Company Limited, the new aircraft operating lease venture based in Beijing, announced today that it arranged for AerDragon Aviation Partners, the acquisition of a new Airbus A320-200. Following delivery of the aircraft at the Airbus facility in Toulouse, France on February 9, the aircraft was immediately leased to JuneYao Airlines, a privately owned carrier headquartered in Shanghai, China where it was put in commercial operation, the following day.

"The acquisition of a brand-new A320 as our first aircraft is an important milestone for our newly established venture and a significant point for building up our activity. We aim to establish a fleet of $1 billion worth of aircraft in the next few years with an initial focus on narrowbody aircraft," said Jean-Louis Chevrot, the newly appointed Chief Executive Officer of Dragon Aviation Leasing. "The Dragon Aviation management team looks forward to serving the airline industry by providing state-of-the-art aircraft and by establishing the company as an important player in the development of the aircraft leasing market in China for the benefit of all of our stakeholders."

Source : Dragon Aviation Leasing