Bombardier Aerospace has signed a memorandum of understanding (MoU) with ICBC Financial Leasing to provide its customers with advance payment financing, delivery financing and leasing solutions.

As per the MoU, worth $8bn, ICBC Leasing will provide financing solutions in the areas of maintenance, service and production for Bombardier’s current and potential future subsidiaries and affiliates.

It will also provide Bombardier with credit facilities, hedging and settlement services for general requirements through affiliates of ICBC.

Bombardier Aerospace President and COO Guy C Hachey said the MoU provides mutual benefits to both parties providing optimised aircraft solutions to operators in China and the Asia-Pacific region.