BOC Aviation orders planes from Airbus for $2.6b

Singapore-based Bank of China Aviation Pte Ltd signed a $2.6 billion contract with Airbus for 25 airplanes on Wednesday.

The order consists of aircraft from the A320 family, including 12 A321 planes equipped with a new type of engine, the NEO, and 13 A320s equipped with the current engine.

The aircraft will be delivered from 2015 to 2019.

The deal follows a 50-unit order last December between the leasing company and the aircraft manufacturer.

"The reason we have placed the orders consecutively is because we see China as a leading market in aviation," said Robert Martin, chief executive officer for BOC Aviation.

The company has an exclusive portfolio of airplane leasing, which gives it an edge on competitors who also lease other types of vehicle, Martin said.

BOC Aviation has ordered a total of 212 airplanes from Airbus since their cooperation started in 1996, 125 of which have been handed over to 41 airlines.