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CAS, ICBC sign order agreements with Airbus

written by australianaviation.com.au | June 30, 2011

Airbus has announced that Chinese firms China Aviation Supplies Holding Company (CAS) and ICBC Financial Leasing Co havesigned agreements for a total of 88 A320 variants.

CAS signed an overall General Terms Agreement (GTA) with Airbus for all 88 A320s, which will see ICBC take 42 of those aircraft under a purchase agreement which has also been confirmed.

ICBC Leasing, a subsidiary of the Industrial and Commercial Bank of China (ICBC), has 68 aircraft in its porfolio, but this is the first order that it has placed directly with an aircraft manufacturer.

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