ICBC Financial Leasing, a subsidiary of the Industrial and Commercial Bank of China (ICBC), has entered into an agreement under which IAE International Aero Engines AG’s V2500 engines will power 17 firm and three option A320 series aircraft. This brings the total number of V2500 engines ordered by ICBC Leasing to 37. The new deal is valued at $430m. Deliveries will commence in 2015 and continue through 2017. Aircraft powered by the V2500 engines will be leased to operators worldwide.