On October 12, President Tan Kejian of China Aviation Supplies Import & Export Corporation (CASC) and Sun Yuping, a representative of the original shareholders of Bireturn Information Technology Service Co., Ltd (Bireturn) jointly signed an agreement for the increasing of capital at CAS headquarter. With the capital increase, CASC will hold 50% share of Bireturn, and the new company will fully acquire the assets and businesses of Bireturn Enterprise Management Co., Ltd (Bireturn EM), and integrate the IT and AOG support of aviation supplies. The new company is a subsidiary of CASC, with the name “Bireturn” continuing to be used temporarily.
CAS President & CEO Li Hai, Vice President Sun Bo, Vice President Yang Xiaoming, heads of relevant functional departments, CASC President Tan Kejian, Senior Vice President Feng Chunyan and relevant management personnel, Bireturn President Sun Yuping as well as relevant management personnel attended the signing ceremony.
Yang Xiaoming, Feng Chunyan and Sun Yuping delivered speeches respectively. Yang Xiaoming pointed out that the agreement will enable the two companies to integrate the advantageous resources of the support services, IT and other aspects of aviation supplies, give full play to the advantages of the mixed ownership, and form a strong complementary situation. Therefore, it will play a positive role in meeting the requirements of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) on the building of the pooling platform for aviation supplies.
CASC is a wholly-owned subsidiary of CAS. Since its founding, CASC has been a comprehensive service provider for aviation supplies in Chinese civil aviation industry. In recent years, sticking to the idea of creating value-added CAS, CASC cooperated closely with domestic and foreign partners, steadily pushed forward the building of the pooling platform, and provided customers with various modes of comprehensive support services, including package purchase of critical equipment for retrofit and modification, asset management, aviation leasing, exchanging, PBH (power by hour), consignment, sales and disposal of surplus aviation supplies, etc.
Bireturn, an important IT service provider for domestic aircraft engineering maintenance industry, using SAP and other systems, offered solutions to resources integration and business operation. In the past decade, over 50% commercial aircraft engineering maintenance was processed in the IT systems, which were created by Bireturn and its customers.
Bireturn EM, the initiator of leasing standards in aviation supplies and one of the standards makers, has provided over 70 domestic and foreign airlines, including the three major airlines and other small-and-medium-sized airlines with equipment leasing, financing support, and other services, meeting their demands thousands of times through O2O business mode.
According to the requirements of SASAC and CAAC, CASC undertakes the building of the pooling platform for aviation supplies, which is a task in the 13th Five-Year Plan in civil aviation. CASC has determined its development strategy as becoming a main supplier of comprehensive services on aviation supplies in Chinese civil aviation, and an important supplier in global civil aviation. Building on this strategic development goal, CASC will realize the goal of building the Internet Plus trading platform for aviation supplies within the period of the 13th Five-Year Plan.
Through constant exploration in comprehensive services for aviation supplies, Bireturn has preliminarily possessed the Internet Plus thinking and IT implementation ability. The new company will be responsible for building and operating the Internet Plus trading platform for aviation supplies, contributing to the strategic development goal of the pooling of aviation supplies.