China Aircraft Leasing Group (CALC) has announced it will acquire a 35.68% stake in TransNusa (8B, Jakarta Soekarno-Hatta) parent firm Aviation Synergy Limited through a subscription agreement. The entire transaction is valued at USD28 million, a stock market filing said.

"Investing in TransNusa will reinforce the Group's existing strategic alliance with aircraft manufacturers and parts suppliers, which is an essential component for the Group's aircraft full value chain. The establishment of an airline business has also put CALC's full vision to become the one-stop solutions provider into action by tapping into the end-user of the value chain," CALC Chief Executive CALC Mike Poon said.

The Hong Kong-based lessor said it would continue to seek opportunities for "vertical and horizontal integration" going forward.

TransNusa currently operates one ATR42-500, seven ATR72-600s, one BAe 146-100, and one BAe 146-200, serving routes mostly between secondary cities in central Indonesia. It is planning to add an A319-100 shortly for its first international route, from Denpasar via Morotai Island to Hong Kong International. None of the airline's current aircraft are leased from CALC.