Airbus, Bank of China team up on financing and aircraft leasing

PARIS Fri Mar 28, 2014 9:53am EDT

The logo of Airbus Group, Europe's largest aerospace group, is pictured in front of the company headquarters building in Ottobrunn, near Munich February 26, 2014. REUTERS/Michaela Rehle

The logo of Airbus Group, Europe's largest aerospace group, is pictured in front of the company headquarters building in Ottobrunn, near Munich February 26, 2014.

Credit: Reuters/Michaela Rehle

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PARIS (Reuters) - Airbus Group (AIR.PA) said on Friday it had signed a memorandum of understanding with Bank of China (601988.SS) to cooperate on financing operations and aircraft management.

Both parties will cooperate on domestic and international settlement, global cash management and treasury operations as well as loan and trade financing, 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," Airbus said in a statement.

(Reporting by Natalie Huet)

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