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Airbus Group Signs Global Cooperation Agreement With Bank of China

Airbus Group (stock exchange symbol: AIR) has signed a Memorandum of Understanding with Bank of China regarding a global cooperation. The two parties have agreed to work together strategically to advance operation-related activities such as domestic and international settlement, global cash management and treasury operations as well as credit-rated activities like loan and trade financing. They will also cooperate in the areas of aircraft leasing, aircraft asset management, hedging and corporate loans.

The agreement will provide broader financing options to Airbus Group’s customers, including various currency options, and develop corporate and structured finance opportunities in China and globally. It will also facilitate Bank of China’s banking development in the aerospace and aircraft leasing sectors.

“As a company that already has a significant industrial and market presence in China, this agreement with Bank of China is a logical step forward,” said Airbus Group Chief Financial Officer Harald Wilhelm. “Our customers both in China and internationally can benefit from this agreement between our two companies.” “The Memorandum of Understanding with Airbus Group marks a new level of cooperation between the two sides,” said Bank of China Chairman Tian Guoli, who signed the agreement this week in Toulouse. “Airbus has had a long term partnership with China since 1985 when it first introduced its aircraft into the China market, and set up its A320 Family Final Assembly Line in Tianjin in 2008,” he added.

Bank of China owns Singapore-based lessor BOC Aviation, which has acquired and committed to 251 Airbus aircraft through direct orders and purchase and leaseback transactions since it was established in November 1993.

Airbus Group

Airbus Group is a global leader in aerospace, defence and related services. In 2013, the Group – comprising Airbus, Airbus Defence and Space and Airbus Helicopters – generated revenues of € 59.3 billion and employed a workforce of around 144,000.

(The legal name change from European Aeronautic Defence and Space Company EADS N.V. (“EADS N.V.”) to Airbus Group N.V. is subject to the approval of the Annual General Meeting).

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