DUBLIN--(BUSINESS WIRE)--
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the execution of a sale and purchase agreement for one Embraer E190 aircraft with South African airline Airlink.
The aircraft, previously on lease to BA Cityflyer, was delivered to Airlink in May 2023, coinciding with the airline’s celebration of connecting Southern Africa for 31 years. The transaction was the inaugural sale of the aircraft type from CDB Aviation’s portfolio. Prior to the sale, the lessor had 20 units of the E190 in its fleet on lease to various carriers globally.
“The E190 segment is seeing a rebound amid rising interest rates and robust demand in all areas of the market as airlines recognize the potential of the 100-seat narrow-body configured aircraft for boosting the capacity of their fleets,” stated Peter Goodman, CDB Aviation’s Chief Marketing Officer. “We’re pleased to have executed this first off-lease sale from our portfolio of E190s, and we trust that this aircraft, with its unique operational advantages, is a perfectly suitable aircraft type for such a major player in the South African domestic and regional market as Airlink.”
Rodger Foster, Airlink’s Chief Executive Officer, commented: “Airlink operates a large portfolio of E-Jets, and we are excited about the purchase of this E190 from CDB Aviation to add to our fleet. This is a good example of the E190 type as it has an impeccable pedigree having been maintained by BA Cityflyer and is eligible for immediate induction into service. The E-Jet type is the right fit for most of the markets within Airlink’s expanding intra-African network, enabling the delivery of appropriate frequency of service and availability that accords with market demand at the right time of the day. Our customers simply love the value proposition of the double two-abreast seating configuration.”
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 Airlink
Airlink was established in 1992 and is Southern Africa’s premier privately-owned, regional airline. Airlink serves these cities and other destinations throughout Southern Africa, Madagascar, and St Helena Island. In addition, Airlink offers worldwide connections through its 34 airline partners, which include many of the world’s best-known inter-continental carriers. Airlink launched its innovative “Skybucks” frequent flyer rewards program earlier this year. Airlink has consistently been South Africa’s most on-time airline over the last two years, with its fleet of more than 60 modern jetliners achieving a 94.89% average on-time performance this year. Airlink is an International Air Transport Association (IATA) member accredited under its safety audit program (IOSA).
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a 38-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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