Asia’s largest aircraft leasing firm BOC Aviation said it has ordered five new Airbus A321-200 aircraft in one of its biggest deals this year as demand for air travel in the region continues to grow despite economic headwinds.

The Bank of China subsidiary, which raised HK$ 4.52 billion in its Hong Kong public listing in June, entered into the deal in the wake of a growing appetite among customers for larger aeroplanes.

It revealed in a statement that the money to be paid for the five Airbus aircraft was lower than the list price of about US$ 574.5 million following price adjustments, pending negotiations between the two parties. The planes are scheduled for delivery in 2017.

Airbus has recently bagged a couple of orders of its A320 jetliners from Turkey and India and lifted its 20-year demand forecast by 500 in July as air travel demand in Asia continues to rise.

The latest move came after Singapore-based BOC Aviation, one of the world’s five largest aircraft leasing firms, booked a 24% year-on-year increase in its first half profit. The surge in profits sparked the company’s biggest intraday gain since listing on the Hong Kong bourse on Tuesday.

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