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JunHe Assists ABC FINANCIAL LEASING CO., LTD in Leasing an ARJ Aircraft to Genghis Khan Airlines

2020.06.08

On April 30, 2020, JunHe assisted Agricultural Bank of China Financial Leasing Co., Ltd. (ABC FINANCIAL LEASING CO., LTD.) in delivering a domestically-produced ARJ21-700 regional aircraft to Genghis Khan Airlines. The ARJ21-700 regional aircraft is the first turbofan regional aircraft in China with independent intellectual property rights, and is also the first aircraft in the world, the design standards of which are established completely according to China's own natural environment.

 

Genghis Khan Airlines Co., Ltd is the first local airline controlled by the government of Inner Mongolia Autonomous Region. With the approval of Civil Aviation Administration of China, Genghis Khan Airlines, taking Hohhot Baita International Airport as the main operating base, is established to engage in regional airline passenger and cargo business. On July 26, 2019, all the preparations were completed and the first flight took off and landed successfully. Genghis Khan Airlines is among the first batch of airlines to open route between Hohhot and Xilinhot. Genghis Khan Airlines is committed to connecting the inner and outer regions of the autonomous region and building air bridges.


ABC FINANCIAL LEASING, controlled by the Agricultural Bank of China, is a non-banking financial institution established with the approval from the China Banking Regulatory Commission to mainly engage in financial leasing business. Commercial Aircraft Corporation of China, Ltd. functions as the main vehicle in implementing large aircraft programs in China, and currently undertakes the missions of research, development and final assembly of ARJ21-700 regional aircrafts and C919 trunk aircrafts.

 

In this project, JunHe, acted as the legal counsel to ABC Financial Leasing Co., Ltd., drafted, revised and negotiated transaction documents, and organized and coordinated the parties to the transaction to prepare aircraft delivery documents so as to provide ABC Financial Leasing with comprehensive legal services.

 

The ARJ "Erdos" delivered to Genghis Khan Airlines on April 30 is the first aircraft of Genghis Khan Airlines named after a city. It is another important achievement of strategic cooperation between Erdos and Genghis Khan Airlines, and is also an important carrier to publicize Erdos and show the city image. The aircraft adopts a 90-seat full economy class layout, and will be put into operation in the near future. As a mobile business card in the air, "Erdos" will carry the unique charm of Genghis Khan holy land to fly around the world, further enhance the influence and popularity of Erdos city brand, and attract more people to visit Ordos for sightseeing, tourism, investment and business. 

  

To facilitate the successful delivery of this aircraft of great significance, JunHe lawyers went all out, completed the delivery of the aircraft in less than 2 weeks from the launch of the project, and won unanimous praise from all parties to the transaction for their efficient, high-quality and rapid response.


The leading partners of the project are YANG, Yanning and WANG, Gang (Gavin).


JunHe is the only Chinese law firm to be admitted as a member of Lex Mundi and Multilaw, two international networks of independent law firms. JunHe and selected top law firms in major European and Asian jurisdictions are “best friends.” Through these connections, we provide high quality legal services to clients doing business throughout the world.