On September 11, BOC signed a memorandum of strategic cooperation with International Airlines Group (IAG) in London. Under the memorandum, the two sides will carry out all-round cooperation in business fields such as aircraft financing, supply chain financing, cash management, cross-border RMB settlement and aircraft leasing.
On behalf of respective sides, BOC Vice President Chen and IAG CEO Willie Walsh signed the Memorandum of Strategic Cooperation.
In recent years, by its advantage in internationalization and diversification, BOC has forged all-round business partnerships with major airlines in the world and become one of the banks with the most financed aircrafts in the world. The memorandum's signing marks BOC's another major breakthrough in the finance service of international aviation.
Formed by the merger of British Airways and Iberia Airlines in 2011, IAG is the third-largest airline in Europe which owns 344 aircrafts and operates routes leading to 205 destinations across the world.
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