Aircraft to Support Dutch Carrier’s Fleet Renewal and Sustainability Initiatives

DUBLIN--(BUSINESS WIRE)--#CDBAviation--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the signing of lease agreements for three new Airbus A321neo aircraft with KLM Royal Dutch Airlines (“KLM”).

“We are thrilled to be expanding our long-standing relationship with KLM through the addition of these brand new A321neos to their fleet on operating lease,” said Peter Goodman, CDB Aviation’s Chief Commercial Officer. “These next generation aircraft offer the best performance in their category for the group’s network needs, benefiting from the latest technological innovations.”

The three aircraft, equipped with the CFM LEAP-1A30 engines, will be delivered to KLM between September and November 2024. The carrier plans to induct these aircraft on medium-haul routes in Europe, notably from Amsterdam Schiphol, its global hub.

“Carriers like KLM, whose fleet renewal strategies are set on ambitious trajectories, value the flexibility and certainty offered by lessors whom they can trust and rely on to execute. With a rapid post-pandemic recovery, lessors have been required to turn to ingenuity and novel approaches in helping airlines reach their fleet expansion and renewal goals. We are very pleased KLM chose our team for these aircraft. The results achieved by our collaboration will be instrumental in helping reach KLM’s decarbonization targets,” concluded Jie Chen, CDB Aviation Chief Executive Officer.

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 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

Paul Thibeau, +1 612 594 9844

[email protected]