(Reuters) – China Aircraft Leasing Group Holdings Ltd (CALC) on Tuesday said it has finalised a $10.2 billion deal to buy 100 planes from European aircraft maker Airbus Group NV subject to shareholder approval.

The jets will be delivered over the period 2016-2022, and will be funded by bank loans, debt, equity financing and working capital among other means, CALC said in a stock exchange filing.

The deal, first announced on Nov. 6, includes 74 A320neo planes. The A320neo is a revamped version of the bestselling 150-seat A320, offering fuel savings of 15 percent and due to enter service late next year.

Hong Kong-based CALC is part of an expanding breed of Chinese leasing companies focusing on medium-haul aircraft for the country’s crowded domestic routes.

SOURCE, REUTERS. Read more..