What SKYCO does

SKYCO International Financial Leasing Co., Ltd. (天合国际融资租赁有限公司) is a Guangdong-based aircraft financial leasing company founded on 2015-11-03 and registered in the Nansha Free Trade Zone. The company operates a 31-aircraft fleet composed of Boeing 737-800 and Airbus A320 family types, with total fleet asset value of approximately RMB 12 billion as of end-2022, ranking it 77th globally and 22nd in China by fleet asset value per Flight Global data. SKYCO provides three integrated lines of business: (1) commercial aircraft operating leases to airlines globally, (2) helicopter procurement and leasing as the designated official helicopter procurement platform for Guangdong Province, and (3) full life-cycle aircraft asset management covering aged aircraft re-leasing, dismantling, and aviation materials distribution. Underlying capabilities include the proprietary Nansha-Hong Kong dual-SPV offshore lease model, China's first low-altitude economy syndicated loan structure, and an end-to-end asset management system from procurement planning through end-of-life disposition.

The revenue model combines subscription recurring operating lease income on aircraft and helicopters (the core, ~70–80% of revenue) with transaction-based revenue from aviation materials sales and aircraft dismantling services, supplemented by one-time capital market access via corporate bond issuance. Customer segments are vertical: (i) commercial airlines globally including Xiamen Air, Shenzhen Airlines, and other carriers in China, Europe, the Middle East, and Southeast Asia (overseas projects = 55% of deployments); (ii) Guangdong provincial government agencies — the Provincial Emergency Management Department and the Provincial Public Security Department — under the exclusive 10-helicopter 14th Five-Year Plan mandate; and (iii) general aviation operators such as China Southern Airlines General Aviation for offshore oil transportation. Distribution is direct enterprise field sales supported by six operating platforms (Nansha, Tianjin, Xiamen, Hong Kong, Ireland, Cayman Islands) and strategic OEM partnerships with Airbus Helicopters and Boeing.

Capital structure and ownership are anchored by Guangdong Hengjian Investment Holding Co., Ltd., a SASAC-affiliated provincial state-owned capital operation platform with AAA domestic credit rating, RMB 383.2 billion in total assets, and net assets of RMB 200 billion. Hengjian became the largest shareholder following a RMB 1.3 billion capital increase in February 2021, which catalyzed the strategic pivot into helicopter procurement and emergency rescue services. SKYCO carries an AA+ corporate credit rating and debuted on the Shanghai Stock Exchange bond market in September 2022 with a RMB 350 million corporate bond at a 3.48% coupon. Recent milestones include the delivery of 8 of 10 mandated government helicopters (with 2 more by year-end 2025), >3,552 flight hours and ~1,000 casualties evacuated through these deployments, and in H1 2025, revenue growth of 19% YoY with net profit more than doubling YoY.

Name

SKYCO

Legal name

天合国际融资租赁有限公司 (SkyCo International Financial Leasing Co., Ltd.)

Website

https://skycoleasing.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

SKYCO is a China-based aircraft financial leasing company providing operating leases of commercial aircraft, helicopter procurement and leasing for emergency services, and full life-cycle asset management to Chinese airlines, government agencies, and carriers across Asia, Europe, and the Middle East.

Ownership category

akta.pro rank

Product category

Aircraft Financial Leasing & Aviation Asset Management

NAICS

Other Nonscheduled Air Transportation (481219), Nonscheduled Air Transportation (4812), Nonscheduled Air Transportation (48121)

SIC

Air Transportation, Nonscheduled (4522)

akta.pro primary industry

On-Demand Helicopter Charter (Private/Corporate) (TLAFACAB)

akta.pro secondary industries

Government, Diplomatic & Military Passenger Charter Operators (THABADAG), Emergency, Evacuation & Repatriation Charter Operators (THABADAH), Private Jet Charter (Midsize/Super-Midsize/Heavy Jet) (TLAFABAB)

Keywords

• Aircraft financial leasing
• Helicopter leasing
• Commercial aviation financing
• Aircraft asset management
• Aviation leasing platform

Headquarters

HQ city

Baiyun

HQ country

China

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Aircraft Operating Lease Revenue: Core revenue from operating leases of commercial aircraft to airlines. The company acquires and owns aircraft assets and leases them to airline customers under operating lease arrangements, generating recurring lease rental income over the lease term. Includes re-leasing of aged aircraft and aircraft portfolio transactions.
2. Helicopter Procurement and Leasing: Revenue from procurement and leasing of government/official helicopters (H175, Ka-32, H135 models) to Guangdong provincial government departments (Emergency Management Department, Public Security Department). Also includes market-oriented helicopter leasing to commercial operators such as China Southern Airlines General Aviation for offshore oil transportation.
3. Aviation Materials Sales and Aircraft Dismantling: Revenue from sales of decommissioned aircraft parts (aviation materials) through global distribution networks, and fees from aircraft dismantling services. The company is establishing partnerships with local state-owned enterprises to set up aircraft dismantling joint ventures.
4. Corporate Bond Issuance: Direct capital market financing through public issuance of corporate bonds to professional investors (3-year tenor, RMB 800 million approved额度, first tranche of RMB 350 million issued in September 2022 at 3.48% coupon).

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

SKYCO provides aircraft and helicopter financial leasing services. Its core offerings comprise commercial aircraft operating leases to airlines (Boeing and Airbus types such as B737-800 and A320), helicopter procurement and leasing for government emergency rescue and public security applications (notably as Guangdong Province's designated official helicopter procurement platform), and full life-cycle aircraft asset management including aged aircraft re-leasing, aircraft dismantling, and global aviation materials sales.

Product overview

SKYCO International Financial Leasing Co., Ltd. is an aircraft financial leasing company offering a comprehensive portfolio of aviation-related products and services. The core offerings consist of: (1) Commercial Aircraft Leasing - providing operating lease services for Boeing and Airbus aircraft to global airlines; (2) Helicopter Procurement and Leasing - as Guangdong Province's designated official helicopter procurement platform, delivering helicopter acquisition, leasing, and operational services; (3) Full Life-Cycle Aircraft Asset Management - covering old aircraft re-leasing, aircraft dismantling, and aviation materials sales. The company serves the Belt and Road aviation market, supports Guangdong's emergency rescue system construction, and provides full lifecycle solutions for aircraft assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Aircraft Leasing (机队规划 / Fleet Planning) Commercial aircraft operating lease services providing aircraft acquisition planning, fleet requirement assessment, and asset management solutions for airlines globally. Includes Boeing and Airbus types such as Boeing 737-800 and Airbus A320.
• Helicopter Procurement and Leasing (直升机采购) As Guangdong Province's designated official helicopter procurement platform, SkyCo provides helicopter acquisition, leasing, and operational services. Supports emergency rescue systems and integrates government helicopter operations with emergency management and public security departments. Helicopter models include H175, Ka-32, H135, and H225.
• Full Life-Cycle Aircraft Asset Management (全生命周期资产管理) Comprehensive aircraft asset lifecycle solutions including aged aircraft acquisition and value assessment, end-of-life asset disposal, old aircraft management and re-leasing, aircraft dismantling services, and global aviation materials sales with established quality management and distribution networks.

Quantifiable outcome

• 31 aircraft fleet with RMB ~12 billion asset value; ranked 77th globally, 22nd in China by Flight Global
• +5 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core, emerging and major.

• Xiamen Air (厦门航空有限公司)coreChannel Partner/ Reseller/ Distributor · 24 April 2026Successful completion of structured operating lease renewal for 3 Boeing 737-800 aircraft with innovative lease structure design, supporting Xiamen Air's fleet optimization and capital efficiency goals. The partnership has a long history including previous deliveries of Boeing aircraft via operating leases.
• Haikou Municipal Government (海口市政府)emergingStrategic or Co-development Partner · 16 January 2026Strategic discussions on aerospace leasing cooperation and regional development between Guangdong-Hong Kong-Macao Greater Bay Area and Hainan Free Trade Port. SkyCo plans to leverage Haikou's policies to develop aviation and aerospace leasing businesses in Hainan, with both parties establishing a regular coordination mechanism.
• China Southern Airlines General Aviation (南航通用航空有限公司)coreStrategic or Co-development Partner · 9 September 2022Strategic cooperation agreement for aircraft leasing, operation maintenance, and emergency rescue flight services. In 2025, expanded to include leasing of sea oil-type H175 helicopters for offshore oilfield operations in the East and South China Seas, marking the first entry of this model into China's offshore oil market.
• Airbus Helicopters (空中客车直升机公司)coreStrategic or Co-development Partner · 6 December 2021Strategic partnership for helicopter procurement. In December 2021, a letter of intent was signed for 7 helicopters (6 H175 + 1 H225) worth >RMB 1.5 billion. SkyCo facilitated Airbus Helicopters' China headquarters relocation to Hengqin (the first foreign 500强 regional HQ in Hengqin). Ongoing cooperation includes H175 maintenance center establishment in Guangdong and framework agreements for training center and aviation materials logistics center.
• Shenzhen Airlines (深圳航空)coreChannel Partner/ Reseller/ Distributor · 1 August 2021Delivery of 2 Airbus A320 aircraft under operating lease — SkyCo's first domestic aircraft portfolio transaction post Hengjian capital injection, increasing SkyCo's managed fleet to 27 aircraft with asset value exceeding RMB 12.2 billion.
• Boeing (波音公司)majorStrategic or Co-development Partner · 1 April 2018Co-hosted the 2nd Aviation Finance (Guangzhou) Forum with Boeing and Nansha Aviation Finance Innovation Service Base in April 2018. Boeing and SkyCo collaborate on industry events to promote aviation financing in the Guangdong-Hong Kong-Macao Greater Bay Area.
• Guangdong Provincial Emergency Management Department (广东省应急管理厅)coreChannel Partner/ Reseller/ DistributorSkyCo serves as the designated procurement platform delivering emergency rescue helicopters (H175, Ka-32) to the Provincial Emergency Management Department, supporting Guangdong's aviation emergency rescue system with accumulated >3,552 flight hours and participation in 60+ rescue missions.

Scale indicators12 records

Recent moves6 records

Expansion highlights7 records

Others

• Avolon:
• China Aircraft Services Limited (CASL): Hong Kong-based aircraft MRO and line maintenance provider. Adjacent rather than directly competitive, but represents the broader Hong Kong aviation services ecosystem in which SkyCo's HK subsidiary operates.

Broad incumbents

• AerCap Holdings: World's largest aircraft lessor with ~1,700 aircraft across all major commercial types. Directly comparable business model (commercial aircraft operating leases) but at materially larger scale, representing the global benchmark SkyCo competes against for narrow-body airline customers.
• SMBC Aviation Capital: One of the world's largest aircraft lessors owned by Sumitomo Mitsui Financial Group. Competes with SkyCo on commercial aircraft leases to global airlines with a much larger fleet and balance sheet.
• Air Lease Corporation: Los Angeles-based publicly listed aircraft lessor with 480+ owned/managed aircraft. Same business model (commercial aircraft operating leases) with global airline customer base overlapping SkyCo's target segment.
• ICBC Financial Leasing: Financial leasing arm of Industrial and Commercial Bank of China with significant aircraft leasing exposure. Competes with SkyCo for the same Chinese commercial airline and government aviation leasing mandates.
• BOC Aviation: Singapore-headquartered aircraft lessor with 700+ aircraft, majority-owned by Bank of China. Operates the same commercial aircraft operating lease model and is a direct competitor in the Chinese airline lessor market.

Direct peers

• CDB Aviation (China Development Bank Leasing): Ireland-based aircraft lessor owned by China Development Bank, one of the most direct Chinese peers in the aircraft operating lease space, serving similar airline customers globally with comparable state-backed capital.
• CMB Financial Leasing (China Merchants Bank Leasing): China Merchants Bank-affiliated lessor active in aircraft leasing with cross-border SPV platforms. Competes with SkyCo for Chinese airline lessor mandates and uses similar Tianjin/Xiamen free trade zone structures.
• BoComm Leasing (Bank of Communications Financial Leasing): Chinese bank-affiliated lessor with aircraft leasing among its core businesses. Directly comparable in serving Chinese commercial airlines with operating lease structures and competing in domestic free trade zone platforms.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 records

Funding overview

Funding rounds2 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SKYCO