Three 737 MAX 8 and Three A320neo Aircraft Will Support Airline’s Efforts to Keep Up with Region’s Rising Air Travel Demand

SINGAPORE--(BUSINESS WIRE)--#CDBAviation--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced on the sidelines of Airline Economics’ Growth Frontiers 2023 Singapore conference the signing of lease agreements for a fleet of three new Boeing 737 MAX 8 and three Airbus A320neo aircraft with its existing Chinese airline customer, Hainan Airlines Co. Ltd (“Hainan Airlines”).

“We are very pleased to be building on our long-standing relationship with Hainan Airlines as they position their airlines to expand into the coming decade, aiming to operate a 1,000-strong fleet by 2029,” said Jie Chen, CDB Aviation’s Chief Executive Officer. “CDB Aviation is confident that Asia will experience a robust rebound in air travel between now and the end of 2024. We are geared up to meet the demand for aircraft from Chinese and Asian carriers, with ongoing campaigns for both placements and SLBs in the region.”

“CDB Aviation has long been an important business partner to Hainan Airlines. The placement of six new generation aircraft demonstrates the confidence and determination of both parties to further our strategic cooperation,” stated Zhu Tao, President and CEO, Hainan Airlines.

The three MAX aircraft will be delivered to the carrier between August and November of next year, while the three NEO aircraft will arrive between October and November.

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 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

Contacts

Media contact: Paul Thibeau

[email protected]; +1 612 594 9844