CDB Aviation Signs Lease Agreements with Turkish Airlines for Six 737 MAX 8 Aircraft
Aircraft to Be Delivered from Lessor’s Orderbook
DUBLIN – June 27, 2023 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the signing of lease agreements for a series of six Boeing 737 MAX 8 aircraft to its current customer, Turkish Airlines (“Turkish”), the flag carrier of Türkiye.
All six aircraft are part of the lessor’s existing orderbook with Boeing. They will be powered by CFM International Leap-1B engines and built with the AnadolouJet-specific configuration, which is a subsidiary of Turkish Airlines. Deliveries are set to take place in 2024 and 2025.
“We’re delighted to have signed these new lease agreements with our valued customer, Turkish Airlines, for the financing of the upcoming six 737 MAX aircraft deliveries from our orderbook,” stated Jie Chen, CDB Aviation’s Chief Executive Officer. “Turkish has become a leader among airlines in undertaking sustainability-focused initiatives to modernize every stage of their flight and ground operations. These highly efficient aircraft will bring Turkish closer to achieving their ambitious sustainability goals by lessening the environmental footprint of their mainline and subsidiary carrier’s flight operations.”
Levent Konukcu, Turkish Airlines Chief Investment and Technology Officer, commented: “We are proud to collaborate with partners like CDB Aviation in our pursuit of excellence. Adding these aircraft to the AnadoluJet fleet will contribute significantly to our goals and allow us to present remarkable travel experiences to our passengers.”
With the addition of the six MAX aircraft, CDB Aviation will have nine aircraft on lease to the carrier, including 1x 737-800, 1x 777-300ER and 1x A320neo. In 2022, the lessor delivered Turkish Airlines’ first A320neo, which marked a significant step forward in the airline’s ongoing fleet modernization process.
“As you would expect for a lessor with a sizable orderbook, CDB Aviation is continually in discussions with existing and prospective customers on how we can leverage our orderbook and price-competitive leasing products to help the airlines modernize their fleets with new technology aircraft and meet long-term business growth objectives,” concluded Chen.
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 meaning. These statements are based on the current beliefs and expectations of CDB Aviation’s management and are subject to significant risks and uncertainties. Actual results and outcomes may differ materially from those expressed in the forward-looking statements. 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.
About Turkish Airlines
Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 419 (passenger and cargo) aircraft flying to 344 worldwide destinations as 291 international and 53 domestics in 129 countries. More information about Turkish Airlines can be found on its official website www.turkishairlines.com or its social media accounts on Facebook, Twitter, YouTube, LinkedIn, and Instagram.
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), a 38-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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