Airbus, the European aircraft maker, has agreed a memorandum of understanding with a leading Chinese bank for the provision of financing for jet deliveries to Chinese domestic airlines.

The MoU signed with Industrial and Commercial Bank of China (ICBC) could lead to the bank’s leasing arm providing financing support for up to 70 A320 short-haul jets to be assembled at the new Airbus plant in Tianjin, China, during the next five years.