CDB Aviation Purchases Four Airbus Aircraft from Avolon
May 01 2024 - 10:00AM
Business Wire
Purchases Demonstrate Lessor’s Continued
Strong Activity in Secondary Market
CDB Aviation, a wholly owned Irish subsidiary of China
Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), has
closed the purchase of four aircraft from Avolon.
The purchased assets comprise one A330-900, two A321neo, and one
A320ceo aircraft, and contain both fixed and floating rate leases
with CDB Aviation’s existing and new airline customers.
“We are very pleased to have partnered with the Avolon team to
carry out the acquisition of these predominantly new-gen assets on
lease to some of our existing and new lessees, which allow us to
further grow our strong customer base and build our modern fleet,”
expressed Jie Chen, CDB Aviation’s Chief Executive Officer.
Andy Cronin, Chief Executive Officer, Avolon, commented: “We
have traded over $10 billion of aircraft since our foundation in
2010, and we continue to see strong demand across all asset types.
We are delighted to have completed this transaction with CDB
Aviation and look forward to continuing our strong working
relationship.”
“This transaction demonstrates our platform’s activity in the
secondary market, which serves as an effective supplemental
function that supports our fleet’s growth by adding new generation
aircraft,” added Chen.
Forward-Looking Statements
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 Avolon
Avolon is a leading global aviation finance company connecting
capital with customers to drive the transformation of aviation and
the economic and social benefits of global travel. We pride
ourselves on our deep customer relationships, our collaborative tam
approach, and our fast execution. We invest with a long-term
perspective, diversifying risk and managing capital efficiently to
maintain our strong balance sheet. Working with 145 airlines in 64
countries, Avolon has an owned, managed, and committed fleet of
1,033 aircraft, as of 31 March 2024. www.avolon.aero
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China
Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a
39-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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Paul Thibeau Paul.THIBEAU@CDBAviation.aero; +1 612 594 9844