China Eastern Airlines (MU, Shanghai Hongqiao) has rolled out its leasing operation, China Eastern Airlines International Finance Leasing Co., Ltd. Based out of the China Pilot Free Trade Zone in Shanghai, the operation will primarily serve the aviation industry with its first deal involving the lease of 14 aircraft to China Eastern from the China Development Bank.

The company has a registered capital of CNY1billion (USD163.38million) sourced from China Eastern Airlines, CES Capital International (Hong Kong) Ltd. and Yingde Gases Group Company Limited. It has also secured a CNY10billion (USD1.6billion) credit facility with the Shanghai branches of the China Development Bank and the Bank of China.