http://politics.sgforums.com/forums/1504/topics/308849 en-US 60 <p><cite class="">Reuters - <span>Tuesday, February 26</span></cite></p> <h1 class="">BOC Aviation to lease 8 Airbus A320s to Qantas</h1> <p>China's banking regulator gave banks approval a year ago to establish leasing companies, seven years after it stopped issuing licences in order to clean up the industry. (Reporting by Eadie Chen; Editing by Alan Wheatley and Edmund Klamann) - BEIJING, Feb 25 - BOC Aviation, the aircraft leasing arm of the Bank of China , said on Monday that it will lease eight Airbus A320 aircraft to Qantas Airways Ltd , Australia's biggest airline.</p> <p>The agreement is the second deal between Qantas and BOC, which leased three A320s to Qantas in 2004, the Chinese bank said on its Web site, www.boc.cn.</p> <p>BOC Aviation will deliver the planes between the third quarter of 2010 and the first quarter of 2011 to Jetstar, Qantas's low-cost Singapore-based subsidiary.</p> <p>Singapore-based BOC Aviation, which Bank of China acquired in 2006, said it now had 70 planes leased to airlines worldwide.</p> <p>It has another 64 aircraft on order for delivery by 2013.</p> <p>Chinese banks are also actively expanding in domestic leasing to diversify their income streams.</p> <p>Industrial and Commercial Bank of China set up a leasing company in September, while Caijing magazine reported last week that China Development Bank was awaiting approval to inject 8 billion yuan into a Shenzhen leasing firm.</p> <p>China's banking regulator gave banks approval a year ago to establish leasing companies, seven years after it stopped issuing licences in order to clean up the industry.</p> Mon, 25 Feb 2008 22:13:32 +0800 politics.sgforums.com:1504:308849:7884264 SMRT Buses http://politics.sgforums.com/forums/1504/topics/308849