CDB Aviation Agrees to Lease Additional Six A321neos to Wizz Air
Extension of Sale and Leaseback Deal Demonstrates Lessor’s Ability to Expediently Meet Airlines’ Needs with Rapid Execution
DUBLIN – October 6, 2020 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today an extension of the company’s relationship with Wizz Air Holdings Plc (“Wizz Air;” WIZZ.L) with an additional sale and leaseback transaction for a batch of six Airbus A321neo aircraft.
Wizz Air is expected to receive four A321neos in the fourth quarter of 2021, with the remaining two slated for the second quarter of 2022. The aircraft are powered by Pratt & Whitney GTF engines and similarly configured with the widest single-aisle cabin with 239 seats in a single-class layout.
“We are very pleased that the Wizz Air team has again elected to turn to our platform for the financing of these additional aircraft in the sale and leaseback channel,” stated Paul Boyle, CDB Aviation’s Head of Europe, the Middle East & Africa.
Wizz Air, the largest Airbus customer of the A321neo variant, attributed the selection of CDB Aviation for this repeat transaction in these challenging times facing the airline and the broader industry to “our team’s ability to expediently meet the need for financings with the utmost reliability and the speed of execution,” underscored Boyle.
The announcement comes on the heels of a recently executed agreement for four A321neos between the lessor and the carrier, bringing the total of the type under lease agreements to ten.
Peter Goodman, CDB Aviation Chief Marketing Officer, asserted that the scale of these combined transactions is “evidence of the robust capabilities of our evolved leasing platform and our highly competitive position among global lessors to rapidly meet airlines’ changing needs.”
“The tireless focus of our commercial team continues to be on finding ways to deliver wide-ranging and innovative solutions to the world’s airlines as they strategize their pathways through the air travel sector’s nascent recovery and position their fleets for post-pandemic realities,” concluded Goodman.
“We are delighted to have signed just another deal with CDB Aviation,” said András Sebők, Chief Supply Chain Officer of Wizz Air. “We are confident that the cooperation between the two companies will continue to be a great success thanks to the smooth and seamless relationship with CDB Aviation.”
About Wizz Air
Wizz Air, the largest low-cost airline in Central and Eastern Europe, operates a fleet of 127 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 40 million passengers in the last 12 months. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world’s top ten safest airlines by airlineratings.com, the world’s only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, recognizing individuals and organizations that have distinguished themselves through outstanding performance, innovation, and superior service. www.wizzair.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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