“We have started to get in touch with airlines outside of China and we are hopeful that we will do something soon,” said Cong Lin, chief executive of ICBC Leasing, said yesterday. “The financial crisis is of concern to everybody, but airlines will still present a lot of good opportunities for us.”
ICBC's push underlines China's growing ambitions in the aviation market. This week, the president of state-owned China Aviation Industry Corp, which is building China's first regional jet, said his company hoped to buy a foreign aircraft manufacturer before year end.
China's fleet has doubled in the past five years to 1,200 aircraft, allowing ICBC to develop a strong domestic leasing business. Mr Cong said the priority was to expand further on the mainland, but ICBC also has full backing from Beijing to expand overseas.
