Fri, Jul 01, 2011
Agreement Signed In Berlin Tuesday
China Aviation Supplies Holding Company (CAS) and ICBC Financial
Leasing Co (ICBC Leasing) have signed agreements with Airbus for a
total of 88 A320 Family aircraft.
CAS’s General Terms Agreement (GTA) with Airbus for 88
A320 Family aircraft was signed today in Berlin by Li Hai,
President of CAS and Tom Enders, President and CEO of Airbus. In
the frame of this GTA, ICBC Leasing signed a purchase agreement
with Airbus for 42 A320 Family aircraft. The agreement was signed
by Li Xiaopeng, Senior Executive Vice President of ICBC and
Chairman of ICBC Leasing, and Tom Enders. This is the first order
that ICBC Leasing has placed directly with an aircraft
manufacturer. So far ICBC has 68 aircraft in its portfolio. ICBC
Leasing is a subsidiary of the Industrial and Commercial Bank of
China (ICBC), the world’s largest bank by market
capitalization.
“Since the first A320 Family aircraft was introduced in
China in 1995, the Airbus single aisle programme has played an
important role in supporting the fast Chinese civil aviation
growth. The A320’s high reliability and low operational cost
have made them very popular among Chinese airlines. The outstanding
eco-efficient performance of the Airbus A320 Family will contribute
significantly to the sustainable development of Chinese civil
aviation,” said Li Hai, President of CAS.
“After a thorough assessment and study of the market, we
have decided to place our very first order with Airbus for its A320
Family. This strategic decision to start with the A320 Family
aircraft will help our customers to develop their business in the
most profitable and sustainable way,” said Li Xiaopeng,
Chairman of ICBC Leasing.
By the end of May 2011, there were some 575 A320 Family aircraft
in operation with 13 Chinese airlines.
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