China (BOC) Aviation has stricken a US$340 million deal with
International Aero Engines (IAE) to purchase its V2500 engines,
company sources said.
The engines will be used to power 20 Airbus aircraft of BOC
Aviation.
IAE has supplied engines for 46 Airbus A320 aircraft ordered by
BOC Aviation, formerly known as Singapore Aircraft Leasing
Enterprise (SALE). The company changed its name on July 2 following
its acquisition by the Bank of China (BOC).
"V2500 is the fit choice for BOC Aviation's fleet, the youngest
in the leasing business," said Jon Beatty, President and Chief
Executive Officer of IAE, a multinational aero engine
consortium.
The British engine manufacturer Rolls-Royce said in a report on
September 19 that Chinese airlines will need 6,600 new engines over
the next 20 years, creating a huge market of US$65 billion.
(Xinhua News Agency September 23, 2007)