ICBC Financial Leasing Co. Ltd, a subsidiary of the Industrial and Commercial Bank of China (ICBC), has entered into an agreement under which IAE Int’l Aero Engines AG’s V2500 engines will power 17 firm and three option Airbus A320 series aircraft. This brings the total number of V2500 engines ordered by ICBC Leasing to 37.
The new deal is valued at $430 million. Deliveries will commence in 2015 and continue through 2017. Aircraft powered by the V2500 engines will be leased to operators worldwide.
ICBC Leasing owns and manages over 350 modern aircraft, among them 129 delivered as of September 2013.
IAE is a multinational aero engine consortium whose shareholders are comprised of Pratt & Whitney, Pratt & Whitney Aero Engines Int’l GmbH, Japanese Aero Engines Corp. and MTU Aero Engines. To date, more than 5,700 V2500 engines have been delivered and more than 1,600 more engines are on order with close to 200 customers around the world.
Source: IAE