CDB Aviation Delivers One New 737-800 to Air Changan
SEATTLE – November 17, 2017 – CDB Aviation Lease Finance DAC (“CDB Aviation”), a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced that a domestic Chinese carrier Air Changan took delivery of its first new Boeing 737-800 aircraft on lease from CDB Aviation at a handover ceremony on November 16 at Boeing Field in Seattle.
“We are very pleased to welcome Air Changan as our newest lessee customer in China and provide the airline with its first new 737-800 aircraft to further expand its fleet and continue enhancing efficiency of its route network with the aircraft’s optimized operating performance,” said CDB Aviation President and Chief Executive Officer Peter Chang.
This is the first time Air Changan took delivery of a new 737-800 aircraft, which will join the Shaanxi Province-based carrier’s 737-800-only fleet and will be operated from Xian Xianyang International Airport on services to regional destinations.
“It’s a pleasant cooperation with CDB Aviation. The new introduced aircraft B-1481 is the eighth 737-800 aircraft of Air Changan. Since launching the first flight on May 9, 2016, Air Changan has got a rapid development and opened 32 domestic routes, reaching 33 destinations,” commented Air Changan President Kong Xiangyu. “We will keep introducing aircraft, enrich our route network, provide more convenience for the public and make Air Changan the biggest mid-long distance dynamic culture airline.”
“Boeing 737s are the most popular airplanes in the world and we are delighted to see lessors like CDB Aviation and carriers like Air Changan utilize the airplane’s leading reliability, range and efficiency to grow their business,” said Jeremy Griffin, Boeing Senior Vice President of Global Leasing Sales.
During the 2017 Paris Air Show, the lessor joined the ranks of the launch customers for the 737 MAX 10 aircraft, signing a Memorandum of Understanding with Boeing for ten 737 MAX 10s and forty-two 737 MAX 8s.
“CDB Aviation is bringing an exciting new platform to serve the airline community—we are committed to building a best-in-class global aviation financier,” added Chang. “We are thrilled with our progress to date and look forward to delivering greater value to our airline customers in China and beyond.”
CDB Aviation’s growing aircraft portfolio comprises 210 aircraft, with an average age of approximately 4.5 years, placed with 45 customers across 25 countries. The lessor’s forward order book consists of 201 aircraft committed with both Boeing and Airbus. In addition to the 737NG and MAX families, the lessor’s order book includes Boeing 787s as well as the Airbus A320ceo and A320neo families.
About CDB Aviation Lease Finance
CDB Aviation Lease Finance DAC (“CDB Aviation”) is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), a 33-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).
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