CDB Aviation Reports Robust 2017 Activity and Growth Executing Transactions for 162 Aircraft
Lessor Continues to Strengthen Operations, Delivering the Ultimate Leasing Option with Innovative Finance Products to Airlines Worldwide
DUBLIN – January 23, 2018 – CDB Aviation Lease Finance DAC (“CDB Aviation”), a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), today announced its increasingly robust activity and growth in 2017. During the year, CDB Aviation executed transactions for 162 aircraft, marking the company’s best-to-date operational results.
“Throughout this past year, the CDB Aviation team achieved several major milestones on our path to building a best-in-class global aircraft lessor,” said CDB Aviation President and Chief Executive Officer Peter Chang. “We continued to deliver on our strategic goals of expanding global operations, providing an excellent experience to airline customers in all key markets, diversifying funding sources, and accelerating growth of aircraft portfolio.”
The 2017 operational highlights include:
- Delivered 38 new aircraft to 15 airlines in 9 countries;
- Sold 19 aircraft;
- Placed orders for 105 new aircraft, including 45 Airbus A320neo Family, 52 Boeing 737 MAX, and 8 Boeing 787 Dreamliner aircraft; and
- Unconditionally and irrevocably guaranteed a $3 billion medium-term note program, under which $800 million was drawn down.
Chang concluded: “We are pleased with our progress to date and we look forward to providing airlines in all markets with the industry’s leading, full-service leasing platform built on a strong, secure and resourceful financial foundation. Backed by our shareholder China Development Bank, we are shaping the future of aviation finance, led by the next generation of the industry’s best-in-class leasing, financial, and marketing leaders.”
At the end of 2017, CDB Aviation’s fleet comprised of 215 owned and managed aircraft on operating or finance leases, as well as 184 committed aircraft in its forward order book with Boeing and Airbus.
About CDB Aviation
CDB Aviation Lease Finance DAC (“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).
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— CDB Aviation (@CDBAviation) January 23, 2018