OREANDA-NEWS.  October 28, 2014. ICBC Leasing, a wholly-owned subsidiary of ICBC, has recently delivered a Boeing 777-300ER aircraft to Garuda Indonesia in Seattle, USA, a milestone that it has totally delivered more than 200 commercial aircrafts worldwide. At present, the number of aircrafts operated and managed by ICBC Leasing has exceeded 400 with an asset value of more than RMB 60 billion, ranking the first among its domestic peers and top ten in the world.

While leading China's aircraft leasing sector to go global, ICBC Leasing has also actively supported the development of China’s air transport industry. According to statistics, over the past seven years since its establishment, ICBC Leasing has helped domestic airlines bring in 106 aircrafts. In addition, ICBC Leasing has also backed the growth of China’s aviation industry and locally-made aircrafts. The Bank has reached a cooperation agreement with Commercial Aircraft Corporation of China Ltd (COMAC) to buy 45 C919 aircrafts, representing the largest deal of home-made aircrafts. Meanwhile, ICBC Leasing has also set up a special home-made aircraft leasing team and accelerated construction of overseas business platforms and sales channels, laying a solid foundation for Chinese aircrafts “going global”.

Relevant head of ICBC Leasing said that aircraft leasing is not only a talent and capital intensive industry, but also a highly internationalized business. Since its establishment in 2007, ICBC Leasing has based on the characteristics of aircraft leasing business, consistently adhered to the development strategy of specialization, marketization and internationalization, and developed a series of innovative businesses including China bonded leasing, direct bulk purchase, export leasing, and joint leasing, and explored a unique growth path for China's aircraft leasing industry. So far, ICBC Leasing has made its presence in Asia-Pacific, Europe, Middle East, South America and other regions covering various businesses including sale-leaseback, operating leasing, financing leasing, and prepayment financing with 49 airlines in 23 countries and territories, such as Singapore Airlines, Emirates Airline, British Airways, Aeroflot-Russian Airlines, TAM Airline, and South African Airways.