Major Transaction in Relation to the Purchase and Leaseback of Fifteen Aircraft
Hong Kong Stock Exchange – June 2, 2021 – Reference is made to the announcement of China Development Bank Financial Leasing Co., Ltd. (the “Company”) dated 22 September 2020 in relation to the purchase and leaseback agreement (the “Original Purchase and Leaseback Agreement”) in respect of two (2) new Boeing 787-9 aircraft and ten (10) new Boeing 737-MAX8 aircraft entered into between the Lessor (as defined hereinafter) and United Airlines, Inc. (“United”).
The board of directors (the “Board”) of the Company is pleased to announce that CDB Aviation Lease Finance DAC (“CDBALF”), a wholly-owned subsidiary of the Company, and certain wholly-owned subsidiaries and nominees of CDBALF, have entered into an amendment agreement to the Original Purchase and Leaseback Agreement (the “Amendment Agreement”) with United on [1 June] 2021, pursuant to which United agreed, among other things, to assign to the Lessor United’s right to purchase and take delivery of three (3) additional new Boeing 737-MAX8 aircraft (the “Aircraft”) from Boeing (as defined hereinafter) pursuant to the original purchase contract between United and Boeing. Each Aircraft will be leased back by the Lessor to United under an operating lease agreement upon delivery.
The Lessor expects to take delivery of the Aircraft under the Transaction by 2021.