BEIJING — (BUSINESS WIRE) — July 13, 2015 — GA Innovation China (“GAIC”), a joint venture between GA Telesis and Air China, has announced the import and delivery of the first-ever aircraft from overseas for teardown and parts redistribution in mainland China. Tianjin HAITE High Tech Co., LTD. has been contracted by GAIC for disassembly operations on the Boeing 767-300. Upon completion, GAIC will provide aftermarket component support for the Chinese and Asian markets. This acquisition marks another historic milestone for GAIC, following the company’s completion of the first-ever aircraft disassembly and parts redistribution program in China in 2013.
The new teardown project supports GAIC’s initiative to introduce foreign aircraft for disassembly to the Chinese market, in order to help airlines reduce maintenance and operating costs for their aircraft. Yang Zhang, Managing Director of GA Innovation China, commented on this groundbreaking move by GAIC: “We are pleased to announce yet another innovative solution to maximize value and cut costs for airlines and customers in the Asia-Pacific region. We are proud to be the first company to support a new and emerging market sector, and look forward to the opportunities for growth it will provide.”
About GAIC
GA Innovation China is a subsidiary of Air China LTD. and GA Telesis, LLC. GA Innovation China is China’s first integrated asset management company that maximizes aircraft and jet engine values by using asset disassembly strategies. Founded in 2013 by its two market leading shareholders, GAIC is fast becoming a powerful resource for airlines and financial institutions in China.
About GA Telesis
GA Telesis is a worldwide leader in providing support services to the commercial and defense aerospace industries. With financial, supply-chain, component and heavy jet engine MRO businesses spanning the globe, GA Telesis is recognized as a pioneering leader in solutions-based services in its sector. As an innovator, GA Telesis is one of the few independent companies in the world capable of providing a total-support-solution to their customers from their front door with several full integrated operations throughout the North America, Europe and Asia. GA Telesis also provides leasing and asset management services and maintains an extensive portfolio of leased assets exceeding $1 billion in value.
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