U.S. Markets closed

CDB Aviation Lease Finance Delivers One Airbus A320-200neo to SAS

DUBLIN--(BUSINESS WIRE)--

CDB Aviation Lease Finance (“CDB Aviation”), a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the delivery of one new Airbus A320-200neo aircraft to Scandinavia’s largest airline, SAS. The aircraft represents CDB Aviation’s first delivery of a total of six A320-200neos as part of a sale and leaseback transaction with the flag carrier.

"We are delighted to conclude our first deal with SAS. We admire the great work the team at SAS are doing,” commented CDB Aviation Chief Commercial Officer Patrick Hannigan. “CDB Aviation has ambitious growth plans and looks forward to doing more business with SAS."

Niklas Hårdänge, SAS VP Fleet Management, commented, “We are very happy to welcome CDB Aviation as a new partner supporting the introduction of the Airbus A320-200neo into our fleet. We look forward to working with the CDB Aviation team going forward.”

About CDB Aviation Lease Finance

CDB Aviation Lease Finance (“CDB Aviation”) is a wholly owned wholly owned Irish subsidiary of China Development Bank Financial Leasing Co LTD (CDB Leasing) a 33-year-old Chinese leasing company that is backed mainly by the China Development Bank. 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 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).

View source version on businesswire.com: http://www.businesswire.com/news/home/20170302006388/en/