NANNING, China--(BUSINESS WIRE)--
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced the delivery of the first of two Airbus A320-200neo aircraft on lease to a new Chinese airline customer, Nanning-based Guangxi Beibu Gulf Airlines (“Beibu Gulf Airlines;” aka “GX Airlines”).
The first LEAP-1A26 engine-equipped aircraft was delivered to the HNA Group-affiliated subsidiary in July 2024, with the second aircraft anticipated to be received by the carrier in September 2024. With the addition of CDB Aviation’s two A320neos, Beibu Gulf Airlines will now have 17 A320 Family aircraft, including eleven A320s and six A320neos.
“We are delighted to strengthen our partnership with the HNA Group, while welcoming one of their subsidiary airlines as a new customer in China,” commented Jie Chen, CDB Aviation’s Chief Executive Officer. “These new technology aircraft, boasting lower fuel consumption and superior operating characteristics, will advance Beibu Gulf Airlines’ fleet growth.”
“China’s commercial aviation market demand is strong, while global aircraft resources are scarce. In this opportunity and challenge, Beibu Gulf Airlines is pleased to establish a friendly cooperative relationship with CDB Aviation,” said Li Rongkui, President of Beibu Gulf Airlines. “On the premise of continuously improving service quality, operational management capabilities, comprehensive service guarantee capabilities, as well as ensuring safety, Beibu Gulf Airlines will continue to introduce aircraft and open more routes to serve local economic development. We look forward to more cooperation with CDB Aviation in the future.”
“Our team continues to be focused on providing attractive financing solutions to carriers in all aviation markets, pursuing aircraft transactions that add versatility to our airline customers’ fleets while improving efficiency and sustainability of their networks,” 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 Beibu Gulf Airlines
Guangxi Beibu Gulf Airlines Co., Ltd. (“Beibu Gulf Airlines”) based in China's only coastal autonomous region, the southwest gateway to Guangxi, is committed to promoting China's economic development and Southeast Asia and providing the majority of travelers with the best air service, being a new force in China's civil aviation industry.
Beibu Gulf Airlines was officially launched on February 16, 2015, which was jointly established by HNA Aviation Group and the People's Government of Guangxi Zhuang Autonomous Region, and jointly funded by Hainan Airlines Holding Co., Ltd. and Guangxi Beitou Civil Aviation Investment Co., Ltd. On December 8, 2021, Beibu Gulf Airlines officially joined Liaoning Fangda Group.
Beibu Gulf Airlines is based at Nanning Wuxu International Airport, which is its main operating base. The airline has 28 aircraft in its fleet as of the end of July 2024, including 12 ERJ-190 and 16 Airbus A320 aircraft. With the fleet and market expansion, the company will gradually open other domestic routes and Southeast Asia International routes. Looking forward, Beibu Gulf Airlines will build its domestic and international aviation networks, covering large cities in China and Singapore, Bangkok, Hanoi, Phuket, and other ASEAN International and regional cities.
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).
View source version on businesswire.com:
