CDB Aviation Begins Deliveries of A320neo Aircraft to Bamboo Airways
Vietnam’s First Airbus A320neo Will Support the Carrier’s Plans to Rapidly Expand Fleet and Increase Domestic Market Share
Hong Kong – November 4, 2019 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the delivery of the first of three Airbus A320neo aircraft to Vietnam’s start-up carrier, Bamboo Airways.
The delivery marks the introduction of Vietnam’s first A320neo as Bamboo Airways aims to expand its growing fleet and increase its domestic market share. The lease agreement was originally announced in October 2018, with CDB Aviation becoming the first lessor to lease new aircraft to the start-up.
“We are thrilled to team up with Bamboo Airways in marking this historic milestone, delivering the benefits of superior performance and enhanced passenger experience of the neo family to Vietnam’s commercial aviation sector,” said Sign Kadouh, CDB Aviation Head of Commercial, Asia Pacific. “As Bamboo Airways continues on a rapid growth trajectory, we look forward to building our strategic partnership, targeting to meet increasing demand from the country’s burgeoning tourism industry.”
“Bamboo Airways has been continuously expanding its fleet with various models of modern aircraft, affirming its financial capacity, improving its competitiveness, demonstrating its orientation in exploiting domestic and international routes as well as serving passengers with 5-star service. Especially, the upgrade and expansion of Bamboo Airways’ fleet also helps the Airline carry out its mission of connecting provinces and cities across Vietnam, and connecting Vietnam with the world, making contribution to promoting tourism development, enhancing global economic and cultural exchanges,” said Mr. Bui Quang Dung, Deputy General Director of Bamboo Airways.
“We are committed to providing our airline customers with innovative financing solutions and access to our robust orderbook for the most advanced and efficient aircraft,” commented CDB Aviation President and Chief Commercial Officer Patrick Hannigan. “As CDB Aviation continues to bolster its position and customer footprint in Asia Pacific, we are well positioned to leverage the strength of our platform to support growth plans of airlines in the world’s fastest-growing air travel markets.”
The aircraft, configured in a two-class layout with eight business and 162 economy seats, was handed over to the carrier in Toulouse, France, followed by a ceremonious welcome upon its arrival in Hanoi, Vietnam. Bamboo Airways offers traditional full services at affordable fares. The carrier intends to utilize the A320neos to better connect Vietnam’s regions to fast-growing Asian source markets, while it pursues its plans to become the country’s first operator of direct, long-haul flights to the U.S.
After arriving in Vietnam, Bamboo Airways’ new Airbus A320neo will operate 100% green flights with the reduction of single-use plastic products, speeding up the process of launching the Airline’s Fly Green campaign. Bamboo Airways aims at becoming Vietnam’s first green airline, minimizing single-use plastic on all flights beginning in November 2019.
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. www.bambooairways.com
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. CDB Aviation is rated Investment Grade by Moody’s (A1), S&P Global (A), and Fitch (A+). 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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