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Analysis: First direct order for Chinese lessor
30 June 2011
ICBC Leasing's direct order with Airbus is a breakthrough for Chinese aircraft leasing.
Read more:
ICBC Leasing
China Aviation Supplies Holding Company
Airbus
A320
Tony Liang
Donal Boylan
Sandra Chen
In a move that will open the door for more Chinese lessors to place direct orders with aircraft manufacturers, ICBC Leasing signed a purchase agreement with Airbus for 42 A320s earlier this week.
The agreement was part of a larger order signed by China Aviation Supplies Holding Company (CAS) for 88 A320-family aircraft, which deliver between 2012 and 2015.
Mark Jiang, managing director, aviation finance, ICBC Leasing, says: "Airbus and ICBC Leasing signed a strategic cooperation agreement when the first Tianjin-built A320 was delivered. After that, we kept close contact with Airbus. It took us more than half a year to reach the agreement."
ICBC Leasing’s order will deliver between 2012...
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