The Hong Kong Aircraft Leasing and Aviation Finance Association held its inaugural ceremony on the evening of 1 November 2017, marking a new milestones in Hong Kong’s aviation sector. The event was officiated by the Hon Mrs Carrie Lam Cheng Yuet-ngor, the Chief Executive of Hong Kong Special Administrative Region. Ms Jin Ping, Deputy Director of the Department of Economic Affairs, Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region and Mr Joseph Lai, Permanent Secretary for Transport and Housing (Transport) also joined as Guests of Honour. Clarence Leung, PwC Hong Kong Asset Finance and Leasing Tax Partner and Treasurer of the Association also officiated the ceremony.
The Association was established in June 2017 with the mission of promoting the development of Hong Kong's aircraft leasing and aviation finance industry. Over 400 guests from local and international aviation and finance communities attended the inaugural ceremony to exchange views on the prospects, opportunities and challenges ahead for the aircraft leasing industry in Hong Kong. Clarence Leung says that ‘the establishment of the Association will further promote Hong Kong as a major aircraft leasing hub and consolidate the city's position as a global business and financial centre’.
Furthermore, representing the Association, Clarence Leung was invited to speak at the Markets Briefing session hosted by InvestHK at the Airline Economics Growth Frontiers Conference in Hong Kong on 30 October to 1 November 2017.
In his presentation ‘Hong Kong: Asia’s next aircraft leasing hub’, he gave practical guidance for aircraft lessors and companies in setting up aircraft leasing operations in Hong Kong, covering the current Hong Kong concessionary aircraft leasing regimes, comparisons between other territories and case studies on possible structure leases in Hong Kong.
The conference was attended by over 1,200 delegates from airlines and financiers/lessors across the globe.