Emerging Lessor Enhances Portfolio With New Airplanes

ICBC Financial Leasing Co. Ltd.  (ICBC Leasing), has signed an agreement with Airbus for a total of 50 A320 Family aircraft, including 30 A320ceo and 20 A320neo. The aircraft purchase agreement was signed at the Great Hall of the People in Beijing by Li Xiaopeng, Senior Executive Vice President of ICBC and Chairman of ICBC Leasing, and Fabrice Bregier, President and CEO of Airbus. It was a part of a series of Europe-China agreements signed in the presence of visiting German Chancellor Angela Merkel and Chinese Premier Wen Jiabao.

“We decided to order more Airbus A320 Family aircraft, not only A320ceo but also A320neo, to enhance our portfolio in anticipation of increasing demand of the aviation markets in China, Asia Pacific region and the world as well. The order indicates that leasing companies are playing a more important role in the aviation sector,” said Li Xiaopeng, Senior Executive Vice President of ICBC and Chairman of ICBC Leasing.
 
“We are delighted to see ICBC Leasing placing another order for the world’s best selling single-aisle aircraft. In particular, the order for 20 A320neo makes ICBC Leasing the first Chinese customer for the fastest selling aircraft, which offers a 15 per cent fuel burn reduction. We are proud to support the growth of Chinese leasing companies with our eco-efficient aircraft,” added Fabrice Bregier, Airbus President and CEO.
 
By the end of July 2012, there were over 700 A320 Family aircraft in operation with 15 Chinese airlines.

FMI: www.airbus.com