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BIZCHINA / Top Biz News
BOC Aviation signs US$340m deal with IAE
(Xinhua)
Updated: 2007-09-24 10:33
China (BOC) Aviation has stricken a US$340-million deal with
International Aero Engines (IAE) to purchase its V2500 engines, company
sources said.
The engines will be used to power 20 Airbus aircraft of BOC Aviation.
IAE has supplied engines for 46 Airbus A320 aircraft ordered by BOC
Aviation, formerly known as Singapore Aircraft Leasing Enterprise (SALE).
The company changed its name on July 2 following its acquisition by the
Bank of China (BOC).
"V2500 is the fit choice for BOC Aviation's fleet, the youngest in the
leasing business," said Jon Beatty, President and Chief Executive Officer
of IAE, a multinational aero engine consortium.
The British engine manufacturer Rolls-Royce said in a report on September
19 that Chinese airlines will need 6,600 new engines over the next 20
years, creating a huge market of US$65 billion.
(For more biz stories, please visit Industry Updates)
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