CDB Aviation Reports Record Activity and Growth in 2018, Executing Transactions for 107 Aircraft
Company Continues to Rapidly Accelerate Business to Drive Growth
DUBLIN – January 17, 2019 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today a record year for 2018, in which the company executed transactions involving 107 aircraft, rapidly accelerating business to support the continued growth of its industry-leading leasing platform.
“We’re extremely proud to report that 2018 was another benchmark year for CDB Aviation, setting an all-time record for activity across the many facets of our fast-evolving business,” said CDB Aviation Chief Executive Officer Peter Chang. “This past year’s growth is evidence of the strength and scale of our platform, as well as demonstrates our unwavering commitment to execution, through a combination of following our business model, opportunities with the manufacturers – a relationship we prize very highly, and strong relationships with the airlines.”
During 2018, we:
- Signed lease transactions for 62 aircraft with 22 customers;
- Signed agreements to sell 17 aircraft and to acquire 28 aircraft;
- Acquired 42 aircraft on operating lease, representing over 20% growth by number of aircraft in the fleet at the start of 2018;
- Signed financing transactions for $3.2 billion;
- Ended the year with 104 total employees, adding 36 new staff members in 2018; and
- Added 9 new airline customers.
Patrick Hannigan, CDB Aviation Chief Commercial Officer, commented: “Our company’s top-calibre teamis steadfast in its efforts to broaden our customer base, delivering on our commitment to building long-term relationships with airlines across all key markets of the world.”
Chang added: “We have built a top-tier, global platform that is financially strong, focused on long-term thinking, and highly competitive. Together with our shareholder China Development Bank, we are proud to be shaping the future of aviation finance, earning our customers’ and industry’s respect. We will continue to grow exponentially and expand upon last year’s success.”
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”) a 35- year-old Chinese leasing company that is backed mainly by the China Development Bank. China Development Bank is under the direct jurisdiction of the State Council of China and is the world’s largest development finance institution. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating.
CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China’s leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and marketize its business – listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606). www.CDBAviation.aero
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