Source: Xinhua Author: 01/26/2010
Subject Concerned: Aircraft
On Jan. 26, the European biggest plane maker Airbus and CDB Leasing Corporation (CLC), one of China's leading leasing companies, signed a Memorandum of Understanding (MoU) on cooperation in aircraft financing and leasing.
Under the memorandum endorsed in Toulouse, southern France, CLC will provide aircraft delivery financing solutions to airlines around the world for the acquisition of aircraft ordered from Airbus.
Furthermore, according to Airbus' press release following the endorsement, CLC will provide US$4 billion over the next five years to its airline customers on sale-and-leaseback transactions concerning all Airbus aircraft types.
The two companies endeavour to share competence and experience to cooperate on leasing and financing projects, such as pre-delivery payment financing for Airbus aircraft, delivery financing for new and used Airbus aircraft and Passenger-to-Freighter conversion projects, Airbus said.
"We are proud to provide financing solutions for customers worldwide to support the development of the aviation industry, especially the aviation industry of China," said Wang Chong, President of CLC.
He also expressed hope to expand CLC's market share in the field of aviation leasing through this cooperation.
The Airbus Chief Operating Officer for Customers John Leahy said the financing solutions provided by Chinese partner could help worldwide airlines to better cope with the gloomy civil aviation market.
With a registered capital of 8 billion yuan (US$1.17 billion), CLC is the major financial leasing company held by the China Development Bank (CDB).
Mainly engaged in aviation leasing and leasing of large equipment and hi-tech facilities, CLC is also focusing on the leasing of traffic, energy and telecom equipments.