CDB Aviation Lease Finance Places Order for 45 Airbus A320neo Family Aircraft
Company Doubles Its NEO Order Book, Further Advancing Fleet Growth
PARIS – June 20, 2017 – CDB Aviation Lease Finance DAC (“CDB Aviation”), a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the signing of a Memorandum of Understanding with Airbus for forty-five Airbus A320neo Family aircraft, including thirty A320neos and fifteen A321neos, doubling its overall order position for the aircraft family. In addition, 15 A320neo positions from CDB Aviation’s previous order will be converted to A321neo aircraft.
“The addition of 45 A320neos to our existing order book positions CDB Aviation with the latest technology fleet to realize our fleet growth plan and further strengthen our ability to serve airline customers with narrowbody fleet requirements,” said CDB Aviation President and Chief Executive Officer Peter Chang.
“It is a pleasure to expand our partnership with CDB Aviation. This is another endorsement from the lessor community for the NEO, and takes our NEO customer base to nearly 95,” said Airbus Commercial Aircraft Chief Operating Officer – Customers John Leahy. “Our order book for the A320neo Family increases weekly and its 60 per cent market share is proof it is the single aisle aircraft of choice.”
CDB Aviation’s growing order book for the latest technology, most in-demand narrowbody and widebody aircraft and its strong strategic relationships with OEMs are key to the company’s continued success as it seeks to propel itself into becoming a formidable global aviation leasing platform. The Airbus order follows the signing of a Memorandum of Understanding with Boeing for fifty-two 737 MAXs, including 6 conversions, and eight 787 Dreamliners announced earlier in the week.
Chang concluded that the “foundation of our business model is grounded in our unmatched access to competitive funding, our industry-leading team with global reach, and the large order book and associated strong strategic partnerships with the OEMs.”
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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