Chinese lessor ICBC Financial Leasing has acquired more International Aero Engines V2500 engines in a deal valued at $90 million.
The transaction is part of ICBC's decision to firm up options with Airbus to purchase five more A320 twinjets, IAE says. The new aircraft will be delivered to ICBC between 2013 and 2015.
The next five aircraft will join ICBC's growing fleet, which already includes 15 V2500-powered A320s. ICBC also has 42 A320s on order, along with 45 COMAC C919s and 10 Embraer Legacy 650 business jets.
Jon Beatty, IAE president, credited ICBC's selection "as a testimony to the engine's proven reliability".
Meanwhile, ICBC signaled that it intends to continue growing its relationship with the Pratt & Whitney-owned engine consortium, saying its relationship with IAE "provides us a more powerful engine for further development", according to Cong Lin, ICBC president.