The China Daily is reporting that ICBC Financial Leasing, a subsidiary of Industrial and Commercial Bank of China, will expand its fleet of aircraft from its current 68 aircraft to 250 by 2013, thanks to the robust air traffic demand, the Daily said quoting Jiang Bo, managing director of ICBC Leasing.

According the report, ICBC’s parent company will inject $783 million to the leasing company by the end of 2011. The paper notes that analysts are saying Chinese lessors’ expansion of their fleets comes amid the increased demand in China and the international market.

Jiang is quoted as saying, “aircraft leasing contributes one-fourth of the revenue of the company, which also leases to shipping and other large-scale outfits.”