CDB Aviation Signs New Sale and Leaseback Agreement with Volaris for Five Airbus Aircraft
Lessor Expands Strong Relationship with Mexico’s Number One Airline, Supporting Carrier’s Fleet Optimization and Sustainability Strategy
MEXICO CITY – April 7, 2022 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the lessor entered into a new sale and leaseback agreement with its existing customer, Volaris (“Controladora Vuela Compañía de Aviación, S.A.B. de C.V.”), for a fleet of five Airbus aircraft, encompassing two A320neos and three A321neos.
The new agreement brings the number of CDB Aviation aircraft on lease to Volaris to a total of thirteen aircraft, which were secured through the lessor’s orderbook with Airbus, as well as Sale and Leaseback (“SLB”) transactions with and without Pre-Delivery Payments (“PDP”). Four of the aircraft were already delivered and the further nine will be delivered by the fourth quarter of 2024.
“We are thrilled to be deepening our ongoing collaboration with the Volaris team in support of efforts to bolster their leadership position in the Mexican domestic market and execute on an aggressive strategy of growth and strong operational performance,” asserted Luís da Silva, CDB Aviation Head of Commercial, Americas.
“With one of the youngest, most fuel-efficient fleet in America, and alongside partners at CDB Aviation, we reinforce our ESG strategy to ensure sustainable growth in the long term. These deliveries will also bring our clients the best flying experience in the most modern technology aircraft,” said Enrique Beltranena, Volaris’ President and Chief Executive Officer.
Peter Goodman, CDB Aviation’s Chief Marketing Officer, concluded: “CDB Aviation is well positioned to provide airlines with access to an established fleet of varied new and used aircraft types as well as wide-ranging and innovative financing solutions, anchored with the platform’s robust ability to expediently secure aircraft placements through SLB and PDP transactions.”
This press release contains certain forward-looking statements, beliefs or opinions, including with respect to CDB Aviation’s business, financial condition, results of operations or plans. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as “may”, “will”, “seek”, “continue”, “aim”, “anticipate”, “target”, “projected”, “expect”, “estimate”, “intend”, “plan”, “goal”, “believe”, “achieve” or other terminology or words of similar or analogous meaning. These statements are based on the current beliefs and expectations of CDB Aviation’s management and are subject to significant risks and uncertainties. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.
Volaris or the “Company” (NYSE: VLRS and BMV: VOLAR), is an ultra-low-cost carrier (ULCC), with point-to-point operations, serving Mexico, the United States and Central America. Volaris offers low base fares to build its market, providing quality service and extensive customer choice. Since begin-ning operations in March 2006, Volaris has increased its routes from five to 180 and its fleet from four to 94 aircraft. Volaris offers more than 460 daily flight segments on routes that connect 43 cities in Mexico and 25 cities in the United States with one of the youngest fleets in The Americas. Volaris targets passengers who are visiting friends and relatives and cost-conscious business and leisure travelers in Mexico and in selected destinations in the United States and Central America. Volaris has received the ESR Award for Social Corporate Responsibility for eleven consecutive years, it entered the MILA Pacific Alliance Dow Jones Sustainability Index in 2020 and the S&P/BMV Total Mexico ESG Index from the Mexican Stock Exchange in 2021. www.volaris.com
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), a 37-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A2), 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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