ICBC Leasing said it signed a deal with Hungary's Wizz Air on Thursday to buy eight Airbus A320 passenger planes.

The financial leasing arm of the Industrial and Commercial Bank of China, the country's largest lender, said the deal is one of the biggest financial cooperation projects in terms of trading value between China and Hungary, as well as its first business program in east Europe.

The planes will be delivered before the end of 2014.

ICBC Leasing has 94 planes and assets of at least 130 billion yuan (20.8 billion U.S. dollars). Wizz Air is Hungary's biggest airliner, running 40 Airbus 320s on 270 routes.