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China's CAS and ICBC Leasing buy 88 Airbus A320 Family aircraft 2011.07.03

Berlin, Germany - June 28, 2011 - China Aviation Supplies Holding Company (CAS) and ICBC Financial Leasing Co., Ltd. (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.

From left to right: Li Xiaopeng, Senior Executive Vice President of ICBC and Chairman of ICBC Leasing, Tom Enders, Airbus President & CEO and Li Hai, President of China Aviation Supplies Holding Company (CAS) sign agreements for a total of 88 Airbus A320 Family aircraft at the Third Airbus/ NDRC Aviation Cooperation & Development Summit in Berlin, Germany, witnessed by the Chinese Premier Wen Jiabao and German Chancellor Angela Merkel.
(28 June 2011).
Courtesy of Airbus / Guido Bergmann

Berlin, Germany - June 28, 2011

China Aviation Supplies Holding Company (CAS) and ICBC Financial Leasing Co., Ltd. (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.

AirAsia, the largest low cost airline in the Asia-Pacific region, has placed a firm order with Airbus for 200 A320neo aircraft. The contract is the largest order ever placed for the A320 Family and makes AirAsia the biggest airline customer for the Airbus single aisle product line worldwide.
(23 June 2011).
Courtesy of Airbus / Alexandre Domenjou
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.

At the 2011 Paris Air Show, AirAsia announced its new firm order for 200 A320neo aircraft – representing the largest-ever booking for Airbus’ single-aisle product line (23 June 2011).
Courtesy of Airbus / H. Goussé
“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.

The A320neo Family clearly was the star of the 2011 Paris Air Show, and proved irresistible to airlines and lessors alike – winning an unprecedented 667 commitments worth some US$60.9 billion (23 June 2011).
Courtesy of Airbus / H. Goussé
“We are delighted to receive a new order from our long-lasting customer CAS, and also the very first order from ICBC Leasing. These aircraft will contribute to the growth and success of China’s aviation sector, and we are proud to be their partner,” said Tom Enders, Airbus President and CEO.

AirAsia orders 200 A320neo aircraft.
"This landmark deal is the strongest endorsement yet of our decision to invest in the development of the A320neo and further consolidates the market-leading position of the Airbus single aisle product line." says Tome Enders, Airbus president and CEO (23 June 2011).
Courtesy of Airbus / Alexandre Doumenjou
By the end of May 2011, there were some 575 A320 Family aircraft in operation with 13 Chinese airlines

The A320 Family (A318, A319, A320 and A321) is recognized as the benchmark single-aisle aircraft family.

With more than 7000 aircraft sold, and over 4,700 aircraft delivered to more than 330 customers and operators worldwide, the A320 Family is the world’s best-selling single-aisle aircraft family.

With 99.7 per cent reliability and extended servicing periods, the A320 Family has the lowest operating costs of any single aisle aircraft.

Uniquely, the A320 Family offers a containerized cargo system, which is compatible with the worldwide standard wide-body system.

Source: Airbus



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