CDB Aviation Confirms Order With Airbus For 90 A320neo Family Aircraft
DUBAI, United Arab Emirates – November 15, 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 that it has confirmed an order for 90 Airbus A320neo Family aircraft during the 2017 Dubai Airshow.
The lessor’s order book now comprises a total of 90 A320neo Family aircraft, including 32 A321neo and 58 A320neo aircraft. The agreement was reached in two steps: an original purchase agreement signed in 2014 for 45 A320neo Family aircraft, which remained undisclosed to date; and the firming up of the Memorandum of Understanding (MoU) for an additional 30 A320neo and 15 A321neo aircraft announced at the Le Bourget Paris Airshow in June 2017.
“By confirming today’s order for 90 A320neos, we have doubled our overall order position for the aircraft family. CDB Aviation is now well positioned with a leading order book for the latest technology narrowbody aircraft to realize our aggressive fleet growth plan and further strengthen our ability to serve airline customers around the world with narrowbody fleet requirements,” said CDB Aviation President and Chief Executive Officer Peter Chang. “Our business model is grounded in our unmatched access to competitive funding, our industry-leading global team, and the large order book associated with strong strategic OEM partnerships.”
“It is a pleasure to see CDB Aviation firming up another commitment for Airbus products and we are looking forward to strengthen our relationship with such fast growing player in the industry. The order from CDB Aviation is another true endorsement from the lessor community for the A320neo Family,” said Airbus Commercial Aircraft Chief Operating Officer – Customers, John Leahy. “This latest order demonstrates its continued confidence in our product for its airline customers and recognizes the A320neo as a sound financial asset in its portfolio.”
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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