In May, STAECO entered into a strategic co-operation agreement with ICBC Financial Leasing Company Limited (ICBC Leasing) to provide aircraft return and sub-lease services, aircraft system and cabin modification, engineering technical support and inventory technical management support.

The co-operation will bring mutual benefits to both STAECO and ICBC Leasing. By leveraging on its technical expertise, STAECO will provide scheduled maintenance, modification, storage and aircraft teardown for ICBC Leasing’s fleet. Meanwhile, with its extensive experience in asset management, ICBC Leasing will support STAECO on global aviation aftermarket analysis, consultation on business development opportunities, aircraft asset management project extension, referral of domestic and international customers, as well as manufacturers and suppliers coordination. As of the end of 2016, ICBC Leasing managed a total of 550 aircraft and its aircraft assets ranked fifth in the world.