ICBC Leasing signs framework purchase agreement of 55 C919 aircraft with COMAC

PR


Total orders of C919 amount to 785, and ICBC Leasing becomes largest customer of COMAC



Commercial Aircraft Corporation of China, Ltd. (COMAC) signed a Framework Purchase Agreement of 55 C919 aircraft with ICBC Financial Leasing Co., Ltd. (ICBC Leasing) in Beijing on December 5th, 2017. With the 55 C919 aircraft signed in this agreement, the total number of C919 aircraft ordered by ICBC Leasing has reached 100, ICBC Leasing has become the largest C919 customer, and the total orders of C919 has amounted to 785. In addition to the 30 ARJ21-700 aircraft ordered previously, ICBC Leasing has become the largest customer of the two domestic aircraft developed by COMAC with total orders of 130 aircraft. Mr. Yi Huiman, Chairman of Industrial and Commercial Bank of China (ICBC), Mr. Zhang Hongli, Vice President of ICBC, and Mr. He Dongfeng, Chairman of COMAC, attended the signing ceremony. Mr. Zhao Guicai, President of ICBC Leasing, and Mr. Zhao Yuerang, Vice President of COMAC, placed their signatures on the agreement.

ICBC has always regarded supporting the development of domestic large aircraft as its own important mission, and actively provided all-round and diversified financial services for COMAC. A Financial Strategic Cooperation Framework Agreement was signed between both sides in 2009. ICBC Leasing of ICBC purchased 45 C919 aircraft and 30 ARJ21-700 aircraft respectively in 2011 and 2015. The additional 55 C919 aircraft purchased this time makes the strategic cooperative relation between ICBC and COMAC closer, and the cooperation between both sides in cooperation mechanism building, market promotion and policy research is deepened increasingly.

C919 aircraft is a large civil jet aircraft independently developed by China in accordance with international civil aviation regulations, and owns independent intellectual property right. C919 aircraft completed its maiden flight in Shanghai on May 5th, 2017. The first C919 aircraft flew from Pudong, Shanghai to Yanliang, Xi'an for flight test on November 10th, 2017.

ICBC Leasing, as a wholly owned subsidiary of ICBC, is operating and managing more than 500 aircraft at present, 300 out of which have been delivered. Its customers include about 70 airlines at home and abroad in 30 countries and regions all over the world, and the total assets of the aircraft are more than 110 billion yuan. By the end of 2016, the fleet size of ICBC Leasing had ranked first in China and fifth in the world.