DUBLIN--(BUSINESS WIRE)--
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the signing of a lease agreement with a Mongolian domestic airline, Hunnu Air, for a fleet of four Embraer E-190 aircraft.
The E190 aircraft will support the carrier’s domestic and regional network, which now operates flights within Mongolia and to China and Russia from its Chinggis Khaan International Airport base. The E190s, configured in a two-class layout featuring 92 economy and 6 business class seats, are expected to deliver to the airline in May 2019, and in 2020 and 2021.
“We are very pleased to enter the Mongolian market with the lease of four E190s to the fast-growing Hunnu Air,” said CDB Aviation President & Chief Commercial Officer Patrick C. Hannigan. “We look forward to building a strong collaboration between our companies to support the expansion of Hunnu Air’s flight routes as it strives to meet the growing market demand and economic growth of Mongolia.”
Hunnu Air Chief Executive Officer Munkhjargal Purevjal commented: “Hunnu Air has taken on a new direction, more committed than ever to providing convenient domestic and regional flights options to travelers. In conjunction with our growing fleet by these Embraer E-190s from CDB Aviation and numerous scheduling options, we need to continue to grow our operations, and further anchor ourselves within the country’s travel landscape.”
About Hunnu Air
Hunnu Air is a privately-owned Mongolian airline that performs more than seventy percent of the overall domestic scheduled services from its Ulaanbaatar hub, also supplies charter flights to Mongolian mining sites, including Oyu Tolgoi. The company also conducts international scheduled and charter services to the neighboring countries, such as Russia and China.
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. 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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