China Aircraft Leasing Group Holdings Limited ("CALC" or the "Group"), the largest independent aircraft operating lessor in China, expects its 2016 consolidated profit to rise not less than 60% compared to 2015, as its business expansion pays off.

"The expected increase is mainly attributable to increase in lease income which resulted from continued expansion of the scale of aircraft leasing business and the gain from disposal of finance lease receivables," the company said in a filing to the Hong Kong stock exchange.

The annual results of the Group for the Year are expected to be announced by the Company in March 2017.

CALC had 81 planes as of the end of 2016, leased mostly to mainland airlines including China Southern Airlines. The company is expected to more than double the number to 173 by the end of 2020.