Lessor Among First Leasing Companies to Provide Aircraft for Airline’s Multi-stage Transformation

NEW DELHI--(BUSINESS WIRE)--#APAC--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the delivery of the first of a fleet of six Airbus A320neo aircraft to India’s leading global airline, Air India.

In 2022, CDB Aviation became one of the first aircraft leasing companies to secure the placement of Air India’s additional A320neo aircraft, which will support the carrier’s multi-stage transformation initiative that is being rolled out post its acquisition by the Tata group. By incorporating the A320neo aircraft into the fleet, Air India aims to significantly reduce its carbon footprint, contributing to a greener and more sustainable future for India’s aviation sector.

“India is a key market for CDB Aviation, being one of the fastest growing aviation regions in the world and the second largest Asian market for new aircraft deliveries, with nearly 1,000 jets on order with Boeing and Airbus,” underscored Peter Goodman, CDB Aviation’s Chief Marketing Officer. “Our commercial team is delighted to have worked closely with Air India to address their fleet requirements with these new Airbus narrowbody aircraft from our order book. We are confident that these aircraft will play a pivotal role in Air India’s multi-stage transformation.”

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 Air India

Founded by the legendary JRD Tata, Air India pioneered India’s aviation sector. Since its first flight on October 15, 1932, Air India has an extensive domestic network and has spread its wings beyond to become a major international airline with a network across USA, Canada, UK, Europe, Far-East, South- East Asia, Australia and the Gulf. Air India is a member of Star Alliance, the largest global airline consortium. After 69 years as a government-owned enterprise, Air India and Air India Express were welcomed back into the Tata group in January 2022. The present management at Air India is driving the five-year transformation roadmap under the aegis of Vihaan.AI to establish itself as a world-class global airline with an Indian heart. www.airindia.in

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). www.CDBAviation.aero

Contacts

Media: Paul Thibeau

[email protected]; +1 612 594 9844