AMS Aircraft Services Limited (“AMS”) and EastMerchant Capital GmbH (EastMerchant”) are pleased to announce the placement on operating lease of a Boeing 747-400F aircraft, msn 30762 (the “Aircraft”), with China Airlines as Lessor and ASL Aviation Holdings as Lessee. AMS and EastMerchant acted as joint remarketing agent for China Airlines.

China Airlines is the national airline of Taiwan and is a member of the SkyTeam alliance.

Mike Skinner, CEO of AMS stated:

“This operating lease may not be a “game changer” but I think it can be justifiably looked upon as a “ground breaker”.

The starting point in supporting that claim is the fact that the Aircraft had been in storage, for over seven (7) years, prior to the start of bringing the Aircraft back to airworthiness. The Entry into Service maintenance tasks required included:

• Airframe D Check plus lower Checks,
• Four CF6-80 Engine performance restorations,
• All Landing Gears overhauled,
• Updating of all applicable Airworthiness Directives, and

The performance of all modifications required to enable the Aircraft to be

registered and operated in an EASA jurisdiction.

Two other unusual features of the lease were (i) both Lessor and Lessee contributed to the significant EIS costs with the Lessee’s contribution being reflected in the lease rentals and (ii) the maintenance provisions and costs reflect the fact that the Lessor has its own Engine Shop.

Overcoming challenges and developing unique solutions, in both aircraft remarketing and cross-border asset financing, describes the business philosophy of AMS and EastMerchant and we both look forward to using our respective experience and expertise to bring future projects to a successful conclusion.”