BEIJING - Saturday, March 9th 2013 [ME NewsWire]
(BUSINESS WIRE)--GA Innovation China ("GAIC”), a subsidiary of Air China, Ltd. and GA Telesis, LLC, had its grand opening ceremony on March 5, 2013 at the Qin Han Ballroom at the Beijing Hilton. In attendance were officials, executives, dignitaries and representatives, of Air China Holdings， Air China, Ltd., officials of the CAAC, local government officials, aircraft manufacturers' MROs, Banks and officials of the importation and customs, to show their utmost support for this first ever venture in China.
In this very well attended ceremony in Beijing, the companies celebrated the receipt of their formal government license to do business as GA Innovation China, a 50/50 joint venture that will be based in Beijing. The joint-venture will be the only China-based integrated aircraft trader/lessor of mid-aged used aircraft and will also include a full-scale aircraft disassembly and redistribution business covering the entire Asian market. GAIC will immediately create many well-paying skilled jobs in China.
The new world class operations will commence operations from Beijing Capital International Airport. GAIC will focus on providing financial solutions for airlines in China and Asia that have an increasing need for fleet decommissioning strategies. The Company will also provide top-quality used-serviceable components to the Asian market, while also acting as China’s first integrated asset management company that maximizes aircraft and jet engine values by using asset disassembly strategies.
"Beijing Ji-An is in its name an innovation, but in practice, it will bring a new perspective to the Chinese airline industry, and to the rest of Asia for that matter,” said Chai Weixi, Vice President of Air China Ltd. As a leader in the airline industry, it is only natural that our strategy surrounding aircraft disposition management and cost savings are very important to us as well as our peers,” he added.
"We are privileged to have received our license for GAIC operations in Beijing and we are honored to have the trust and support of all of those that have been involved in the development of GA Innovation China,” said Abdol Moabery, President & CEO of GA Telesis. "Our goals and objectives are focused on matching different skill sets and bringing new innovation to the Asian market," he explained further.
"We are excited to be a first mover in the Chinese market with such a prestigious partner as Air China," said Andrew Toutt, Chief Commercial Officer of GA Telesis. "The innovations that GAIC will bring to the Asian markets will lead to financially focused strategies to help airlines manage their operating expenses and their balance sheet exposure to aviation assets,” he added. "We expect GAIC to become the preeminent authority in these areas,” he concluded.
Tiffany Harris, +1-954-676-3111