DUBLIN--(BUSINESS WIRE)--
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today a new transaction with its long-standing customer, Scandinavia’s largest airline SAS, for a fleet of four Airbus aircraft, including three A320neos and one A350-900. The deliveries of these aircraft are expected to occur between June 2020 and May 2022.
“We are very delighted to carry out yet another transaction with SAS for these Airbus aircraft,” said CDB Aviation Chief Marketing Officer Peter Goodman, elaborating that “we look forward to further assisting in the reshaping of SAS’ fleet, particularly in support of efforts to advance environmental sustainability goals for their fleet operations.”
Goodman underscored that the lessor’s commercial team is pointedly expanding outreach in all aviation markets, energetically pursuing emerging opportunities for aircraft transactions, including in the sale and leaseback channel. “Airlines can leverage the strength and robust scale of our platform and capabilities to access financing solutions that address their rapidly changing operating requirements during these unprecedented times,” added Goodman.
Torbjørn Wist, SAS Chief Financial Officer, commented: “SAS has worked together with CDB Aviation on several sale-and-leaseback transactions, and we are pleased that we have managed to secure the financing for these four aircraft together with Pat Hannigan and his team during this extraordinary market situation.”
Wist further elaborated that “continuing to add the A320neo and A350 aircraft types into the SAS fleet is an important step in SAS’ ambitious sustainability agenda.”
“Our highly competitive position among lessors offers unmatched access to the range of innovative financings the airlines need for both immediate and longer-term requirements as they navigate their way through a challenging environment,” asserted CDB Aviation Chief Executive Officer Patrick Hannigan.
“With the backing of our shareholder, CDB Leasing, and the unique resources of China Development Bank, our team is expressly poised to go the proverbial ‘extra mile’ in delivering the industry’s best professional, full-service support in these hard times,” concluded Hannigan.
About SAS
SAS, Scandinavia’s leading airline, carries 30 million passengers annually to, from and within Scandinavia. The airline connects three main hubs – Copenhagen, Oslo and Stockholm - with over 125 destinations in Europe, the US and Asia. Spurred by a Scandinavian heritage and sustainable values, SAS aims to reduce total carbon emissions by 25% and operate with biofuel equivalent to equal the total consumption of fuel used to operate all domestic SAS flights, by 2030. In addition to airline operations, SAS offers ground handling services. technical maintenance and air cargo services. SAS is a founding member of Star Alliance™ and together with partner airlines offers almost 19.000 daily flights to more than 1.300 destinations around the world.
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).
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