(EnergyAsia, August 8 2011, Monday) — China Aviation Oil (Singapore) Corporation Ltd (CAO) said it is expanding beyond the China market after securing agreements to supply jet fuel to Hainan Airlines and Turkish Airlines at airports outside the country.
The Singapore-listed firm, which supplies jet fuel to airlines only within China, said the new sales represent an extension of its wholesale supply business.
Meng Fanqiu, CAO’s CEO, said: “This is a natural extension of our jet fuel wholesale supply business and an avenue for CAO to diversify its income streams.
“The scale of our airlines jet fuel supply business is currently small. We plan to proactively develop and grow this business by expanding our customer base and supply locations, and also by offering more value-added services to the airlines. We believe we are able to leverage on our strong links with the Chinese airlines and extend the relationships to markets outside China.”
CAO, the largest trader of jet fuel cargoes in Asia, owns stakes in the Shanghai Pudong International Airport Aviation Fuel Supply Company Ltd and China National Aviation Fuel TSN-PEK Pipeline Transportation Corporation Ltd.