CDB Aviation Signs Lease Agreement for Three A320neo Aircraft with Bamboo Airways
First Lessor to Provide Aircraft to Vietnam’s Start-up Carrier
HONG KONG – October 29, 2018 – CDB Aviation Lease Finance DAC (“CDB Aviation”), a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced the signing of a lease agreement for three new Airbus A320-200neo aircraft with Vietnam’s new start-up carrier, Bamboo Airways.
CDB Aviation is the first aircraft leasing company to lease new aircraft to the carrier. The agreement also signifies the addition of the lessor’s first airline customer in Vietnam, as the company continues to expand aggressively its customer footprint in Asia Pacific.
“We are pleased to welcome our newest, and first, customer in Vietnam, Bamboo Airways, and to support the carrier’s ambitious development plans to meet demand from the country’s booming tourism industry and rapid international air travel growth,” said CDB Aviation Chief Commercial Officer Patrick Hannigan. “With innovative financing solutions and access to robust orderbook for the most advanced and efficient aircraft, CDB Aviation is well positioned to support airlines in the world’s fastest-growing air travel markets.”
Bamboo Airways is considered the first hybrid airline, combining traditional full services and affordable services in Vietnam with an aim to meet diversified demands of all passengers. With the delivery of three A320neos slated for the second half of 2019, the carrier intends to utilize the aircraft to better connect Vietnam’s regions to fast growing Asian source markets and long-haul services to Europe and North America.
“We are eager to receive the aircraft from CDB Aviation, our strategic partner,” commented Bamboo Airways CEO Dang Tat Thang. “This is an important step in the journey of Bamboo Airways to prepare the best facilities for our guests.”
About Bamboo Airways
Bamboo Airways is a Vietnamese start-up airline that plans to begin commercial operations in 2018. The carrier plans to offer flights within Vietnam before expanding into other Northeast Asian markets such as China, Korea and Japan. Bamboo Airways is wholly-owned by the FLC Group, a Vietnamese multi-industry company, focusing on aviation, real estate, resorts, farming, and golf.
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”) a 34- 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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