ISTANBUL--(BUSINESS WIRE)--
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the signing of new lease agreements for a fleet of an additional seven narrowbody and widebody aircraft with its existing customer, Turkish Airlines (“Turkish”), the flag carrier of Türkiye.
Under the new agreements, one used Airbus A330-343 will be delivered in May 2024 to support the expansion of Turkish’s mainline international operations, while another six Boeing 737 MAX 8 aircraft will be received between 2025 and 2026 by the carrier’s newly established subsidiary, Ajet. The CFM International Leap-1B engine-powered MAX aircraft will be delivered from the lessor’s existing orderbook with Boeing, bringing the total number of CDB Aviation’s MAXs on lease to Turkish to 12.
“We are delighted to continue building upon a strong and long-term partnership with our valued customer, Turkish Airlines,” commented Jie Chen, CDB Aviation’s Chief Executive Officer. “The 737 MAX 8 aircraft will contribute toward the airline’s stated goal for Ajet to become an important part of the low-cost aviation industry on a global scale, while the A330 will provide the increased capacity to support its ever-expanding global network.”
Levent Konukcu, Turkish Airlines’ Chief Investment and Strategy Officer, said: “As the airline that flies to more countries than any other with 130 countries, Turkish Airlines continues to strengthen its worldwide success story. In order to contribute to this stunning expansion performance, we evaluate all possible options to feed our fleet. Along with the previous ones, we are glad to collaborate with CDB Aviation for these effective agreements again.”
With the addition of the aircraft, CDB Aviation will now have seventeen aircraft on lease to the carrier, including 12x 737 MAX 8, 1x 737-800, 1x 777-300ER, 1x A321neo, 1x A320neo, and 1x A330-343.
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 Turkish Airlines
Established in 1933 with a fleet of five aircraft, Star Alliance member Turkish Airlines has a fleet of 453 (passenger and cargo) aircraft flying to 346 worldwide destinations as 293 international and 53 domestics in 130 countries. More information about Turkish Airlines can be found on its official website: , or its social media accounts on Facebook, Twitter, YouTube, LinkedIn, and Instagram.
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).
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