China’s largest bank ICBC and Transaero Airlines sign Partnership Agreement

Dino D'Amore
By Dino D'Amore December 5, 2014 21:15

China’s largest bank ICBC and Transaero Airlines sign Partnership Agreement

Industrial and Commercial Bank of China (ICBC), China’s largest bank and Transaero Airlines have signed a Partnership Agreement to attract funding for the company.

ICBC will provide a range of legal and marketing services aimed at attracting investments into Transaero Airlines. Thanks to its size and significance in the world economy, ICBC holds a unique position both on its domestic and international markets. The bank has significant competencies in various financial areas and solid experience in cross-border investing and financing.

The airline and ICBC have already been cooperating before the signing of the agreement. Transaero and ICBC Leasing signed a contract for six Airbus A321 aircraft, with the first of these aircraft due to join Transaero’s fleet in 2015.
Transaero Airlines launched its services in 1991 and today it is the second-largest carrier in the Russian Federation. In 2013, Transaero carried 12.5 million passengers. Transaero Airlines ranks among the top 35 airlines in the world and the top 10 in Europe in terms of passenger turnover.

Currently, Transaero operates a fleet of 103 aircraft including twenty Boeing 747s, fourteen Boeing 777s, eighteen 767s, forty six 737s, three Tupolev Tu-214 and two Tu-204-100C aircraft. Transaero has the largest widebody aircraft fleet in Russia, the CIS and Eastern Europe. Transaero is the first airline to start operating Airbus A380, Boeing 747-8i, A320neo and A330neo aircraft in Russia.

Dino D'Amore
By Dino D'Amore December 5, 2014 21:15