Airbus signed a Memorandum of Understanding with the Industrial and Commercial Bank of China (ICBC), one of China’s leading banks, on cooperation in aircraft financing and leasing. Airbus and ICBC endeavour to share competence and experience to cooperate on aircraft financing and management activities, including structuring of operating and finance lease transactions as well as portfolio management and aircraft placement remarketing.
Under the MoU, ICBC Leasing will provide aircraft delivery financing solutions to airlines domiciled in the People’s Republic of China for the acquisition of aircraft ordered from Airbus. ICBC Leasing could provide financing solutions for up to 70 A320 Airbus aircraft assembled at Final Assembly Line China (FALC) over the next five years. The total value of the financing support will be over 20 billion RMB (some US$3 billion). The financing solutions such as purchase and lease back transactions will be provided directly to Chinese airlines.
Furthermore, ICBC Leasing shall also consider offering these services for aircraft delivered by Airbus from other Final Assembly Lines around the world. Finally, ICBC Leasing shall consider purchasing a certain number of aircraft directly from Airbus for future leasing needs of airlines.
