China Aircraft Leasing Group (1848) H1 2026 earnings summary

Executive summary

• Total revenue for H1 2026 rose 57.9% year-over-year to HK$3,905.6 million, with profit attributable to shareholders up 22.0% to HK$171.4 million and basic EPS at HK$0.229.

• Interim dividend declared at HK$0.14 per share, a 16.7% increase year-over-year, with a payout ratio of 61%.

• Fleet expanded to 163 owned aircraft as of June 2026, with a strong order book of 123 aircraft, focusing on new-generation, fuel-efficient models and premium customers.

• The company maintained prudent operations and robust capital position amid global aviation market volatility and supply chain constraints.

• Enhanced asset management and transaction capabilities, with significant growth in aircraft trading, management services, and aftermarket partnerships.

Financial highlights

• EBITDA for H1 2026 was HK$2,421.4 million, up from HK$1,976.1 million year-over-year.

• Lease income declined 2.5% year-over-year to HK$1,860.0 million, while trading income surged to HK$829.4 million.

• Other income soared to HK$1,164.1 million, mainly from compensation received from lessees and government grants.

• Net income from aircraft transactions dropped to HK$52.0 million from HK$226.7 million year-over-year.

• Cash and undrawn committed facilities totaled HK$228.47 billion, supporting liquidity.

Outlook and guidance

• Global air travel demand remains resilient, with 2026 passenger numbers expected to reach 5.1 billion and Asia-Pacific projected to lead growth at 5.1%.

• Aircraft values and lease rates are expected to remain elevated due to supply chain constraints and strong fleet renewal demand.

• The company will continue prudent operations, optimize fleet and customer mix, and enhance asset management capabilities.