SHANGHAI -(Dow Jones)- China Eastern Airlines Corp. (NYSE:CEA) (CEA) has signed a deal to lease three Airbus A340 planes from Industrial & Commercial Bank of China Ltd.'s (HongKong:1398) (1398.HK) financial leasing unit for CNY1.3 billion, the carrier and the lender said in a joint statement Friday.

The leasing agreement is for six years, said ICBC Vice President Li Xiaopeng on the sidelines of a press conference Friday.

He added that ICBC Financial Leasing Co., the lender's leasing unit, recently signed similar agreements with Hainan Airlines Co. (Shanghai:600221) (600221.SH) and Shenzhen Airlines.

The leasing company is also in talks with Air China Ltd. (HongKong:0753) (0753.HK) and China Southern Airlines Co. (NYSE:ZNH) (ZNH) over financial leasing deals, Li said.

Established in November, ICBC Finanical Leasing Co. has CNY5 billion worth of assets.

-Rose Yu contributed to this article, Dow Jones Newswires; 86-21-6120-1200; rose.yu@dowjones.com

    (END) Dow Jones Newswires   06-27-08 0350   Copyright (c) 2008 Dow Jones & Company, Inc.