A Member of Bank of China Group

Press Release

BOC Aviation Leases Eight New A320 Aircraft to Qantas

25 Feb 2008

BOC Aviation has signed agreements with Qantas Airways of Australia for the lease of eight new Airbus A320 aircraft. The aircraft will be delivered new from Airbus between the third quarter of 2010 and first quarter of 2011 and will be operated by the carrier's fast-growing low fare subsidiary Jetstar.

The deal announced today marks the second time BOC Aviation has worked with Qantas - the Singapore lessor supplied the first three A320s to be operated by Jetstar in 2004. As with the existing Jetstar fleet, the new aircraft will be powered by V2500 engines from IAE International.

Robert Martin, BOC Aviation Chief Executive Officer, said that the company was pleased to build on its partnership with Jetstar and the Qantas group.

"Jetstar has firmly established itself as a quality low fares carrier and stimulated growth in the Australian domestic market," he said. "We were very pleased to be involved with the airline since its launch and look forward to developing our relationship further with the latest batch of aircraft."

BOC Aviation is the leading Asia-based aircraft leasing company with a portfolio of over 70 modern aircraft flying with airlines worldwide. In addition, the company has 64 aircraft on firm order for delivery through to 2013.

BOC Aviation is 100% owned by Bank of China.