State Transport Leasing Company (STLC) and ICBC Financial Leasing Co., Ltd (China) signed a joint statement confirming their intention to continue their cooperative work at the Russian aircraft leasing market. The document was signed by CEO of STLC, Sergey Khramagin, and CEO of ICBCL, Mr. Cong Lin, press-service of STLC reports.
STLC and ICBCL already have the experience of cooperation. In particular, the Chinese company financed the contract between the Russian lessor and Aeroflot for delivery of 5 new Airbus A321 jets in 2013.
"According to the statement, STLC and ICBCL confirm their commitment to continue their cooperative work focused on expansion of air transport network in Russia and provision of air services meeting the market requirements. ICBCL is ready to sign a long-term agreement with STLC. Under this agreement up to $800 million will be invested in development of STLC’s business", - said in the statement.
The statement was signed in the network of a meeting held by the Minister of Transport of Russian Federation, Maxim Sokolov. During the meeting the parties discussed the possibilities for further cooperation in the area of aviation, in particular, a project for development of Russia’s air transport system was considered, the company added.
ICBCL was founded by the China’s largest bank – ICBC, in November 2007. Its establishment has been approved by the State Council of PRC. It received the license from China Banking Regulatory Commission. Industrial and Commercial Bank of China (ICBC) is a member of “Big Four” comprising the country’s largest banks. The bank’s shares are owned by the Chinese government.