AVIC Leasing and Bombardier Sign MoU for Aircraft Financing

Bombardier Aerospace and AVIC International Leasing Co., Ltd. (AVIC Leasing) of the People’s Republic of China today announced a memorandum of understanding (MOU) for an expanded co-operation to support the financing of commercial aircraft sales in China and globally.

The MOU entered into between AVIC Leasing and Bombardier Inc. was one of several agreements signed at the Canada China Business Forum held today in Beijing, with Stephen Harper, Canadian Prime Minister, and Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc., in attendance.

AVIC Leasing, a subsidiary of Aviation Industry Corporation of China (AVIC), is a lease financing company with substantial assets and a rapidly growing aircraft fleet.

“Bombardier’s portfolio of commercial aircraft is well positioned to meet China’s rapidly growing air transport infrastructure, and AVIC Leasing will use this MOU to work with airlines and develop solutions to their varied business requirements,” said Zhao Hong Wei, President, AVIC Leasing.

“This MOU provides AVIC Leasing and Bombardier increased opportunities to grow their businesses by providing airlines with optimized aircraft and financing solutions in China and elsewhere,” said Mairead Lavery, Vice President, Strategy, Business Development and Structured Finance, Bombardier Aerospace.

Source: Bombadier Aerospace
Date: Feb 9, 2012