BEIJING - An A320 aircraft was delivered at the Airbus (Tianjin) Delivery Center on Thursday, the 300th A320 to come off the Tianjin assembly line.

It was delivered to China Development Bank Financial Leasing Co. Ltd. , and then handed over to Sichuan Airlines, according to Airbus China.

"The A320 family is renowned for economy and excellent performance. We're honored that the A320 has again been chosen by both a leasing company and a Chinese airline," said Eric Chen, president of Airbus China.

Inaugurated in 2008, the Tianjin assembly line has reached its phase I production target of four aircraft per month, or 48 to 50 each year. The assembly line is a joint venture between Airbus, Tianjin Airport Economic Area Zone & Tianjin Port Free Trade Administrative Committee, and the state-owned Aviation Industry Corporation of China (AVIC).

It was the third A320 final assembly line in the world and the first outside Europe. It delivered its first aircraft in June 2009.

According to Airbus China, all partners have agreed to extend the joint venture until 2025 for phase II, including final assembly of the A320neo from 2017 onwards.