ICBC Leasing and Airbus sign agreement for 50 A320s

ICBC Financial Leasing Co and Airbus signed (30-Aug-2012) an agreement for 50 A320 family aircraft, including 30 A320ceos and 20 A320neos valued at USD3.5 billion during German Chancellor Angela Merkel's visit to China on 30-Aug-2012. "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. China and Germany also signed a phase two framework agreement on Airbus' final assembly line in China, with the agreements forming part of more than 10 cooperative documents signed between the two countries. [more - original PR]