Air China Ltd. and GA Telesis LLC Agree to Create Landmark Joint Venture Targeted at Bringing Innovation to Asian Used Aircraft, Spare Parts and Asset Management Market

BEIJING and FORT LAUDERDALE, Fla. - Monday, July 9th 2012 [ME NewsWire]

(BUSINESS WIRE)-- Air China and GA Telesis have agreed to establish an Asia-based integrated spare parts supplier in China. After almost a year of planning, the companies have respective top management approvals to move forward with the formation of GA Telesis China Ltd. (“GATC” or the “Company”), a joint venture based in China which will be the first of its kind. The joint venture will be the first aircraft part-out business and integrated full-scale redistribution stockist based in China strategically covering the entire Asian market.

GATC will focus on providing top-quality used-serviceable components to the Asian market, while also acting as China’s first integrated asset management company that has access to aircraft disassembly capabilities. The Company’s plan is to establish a facility allowing high-quality expedited processing and shipping to better serve the Chinese and Asian markets.

“The Asia market is clearly noted to be the largest global growth market for commercial aviation and is forecasted to have almost two-fold demand for new aircraft over the next twenty (20) years,” said Cai Jianjiang, President of Air China Ltd. “The formation of GA Telesis China is a perfect strategy to help Air China to manage its component replacement costs and long-term fleet planning,” he added.

"This formation of GA Telesis China is a perfect example of the type of innovative service solutions GA Telesis consistently brings to the market," said Abdol Moabery, President and CEO of GA Telesis. "The combination of Air China's extensive operational and local expertise, coupled with that of GA Telesis, will lead to unparalleled service by GA Telesis China Ltd to the Asian commercial aviation market,” he added.

Air China is China’s exclusive national flag carrier for civil aviation. A member of the Star Alliance, it ranks first among domestic airline brands leading the competitors in passenger and freight air transport and related services. As of December 31, 2011, Air China (including holding companies) owns 432 mainly Boeing and Airbus aircraft, with an average age of 6.77 years; operates a total of 282 passenger flight routes, including 71 international routes, 14 regional routes, and 197 domestic routes, covering 30 countries and regions worldwide connecting 143 cities, including 43 international cities, 96 domestic cities and four regions. In cooperation with Star Alliance member airlines, its service network is further extended to 1290 destinations in 189 countries.

GA Telesis is a global leader in the commercial aerospace support services industry with sales, distribution and maintenance facilities throughout the United States, Canada and the United Kingdom. GA Telesis specializes in commercial aircraft and jet engine leasing, component maintenance, as well as maintaining one of the world's largest replacement aerospace component inventory networks. GA Telesis serves the world’s largest airlines and maintenance organizations with support for Airbus, Boeing, Bombardier, Douglas and Embraer aircraft and components as well as CFM International, General Electric, Honeywell, International Aero Engine, Pratt & Whitney and Rolls-Royce turbine jet engines and replacement components.

For further information or press interview, please contact Beth Ginzberg +1-954-676-3111 or bginzberg@gatelesis.com.

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Contacts

GA Telesis

Beth Ginzberg, +1-954-676-3111

bginzberg@gatelesis.com