PHNOM PENH, Oct. 17 (FN) -- Cambodia's national flag carrier Cambodia Angkor Air signed an agreement here on Monday to lease two brand new aircraft Airbus A320 from BOC Aviation, a member of Bank of China Group, according to an airline statement.

The planes are expected to deliver by the end of 2016, the statement said.

The lease deal was inked by Tekreth Samrach, chairman of Cambodia Angkor Air, and Phang Thim Fatt, deputy managing director and chief finance officer of BOC Aviation Limited.

According to the statement, the brand new planes will reduce more fuel consumption and maintenance cost and are suitable for future expansion on long range such as the markets of China, Japan and South Korea.

"Cambodia Angkor Air is focusing on the regional markets including China, Japan, South Korea, India, (China's) Hong Kong Special Administration Region, and ASEAN region," Samrach said.

Robert Martin, managing director and chief executive officer of BOC Aviation, which is a global aircraft leasing company, said the company was pleased to lease the planes to the Cambodia Angkor Air.

"It is an exciting time for the airline and we are proud to support its network expansion," he said.

Established in 2009, the Cambodia Angkor Air is using seven aircraft--three ATR72-turboprop planes and four Airbuses--to operate two domestic routes and 10 regular international routes.