ICBC Financial Leasing, a subsidiary of the Industrial and Commercial Bank of China (ICBC), has entered into an agreement under which IAE International Aero Engines AG's V2500 engines will power 17 firm and three option 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. "We are very pleased with the success of lease placements for our previous V2500 order. This engine fits in well with our goal of being one of the top lessors in the world," said Cong Lin, president of ICBC Leasing. "IAE is very appreciative of ICBC Leasing's selection of the V2500 engine once again," said IAE President and CEO Jon Beatty. "Their impressive growth in China and internationally have positioned them as one of the largest businesses in the world. We look forward to continuing our relationship with them and providing them with powerplants that will continue to fuel their growth.
ICBC leasing orders V2500 engines for new aircraft
