Purchases Demonstrate Lessor’s Continued Strong Activity in Secondary Market

DUBLIN--(BUSINESS WIRE)--#AndyCronin--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), has closed the purchase of four aircraft from Avolon.

The purchased assets comprise one A330-900, two A321neo, and one A320ceo aircraft, and contain both fixed and floating rate leases with CDB Aviation’s existing and new airline customers.

“We are very pleased to have partnered with the Avolon team to carry out the acquisition of these predominantly new-gen assets on lease to some of our existing and new lessees, which allow us to further grow our strong customer base and build our modern fleet,” expressed Jie Chen, CDB Aviation’s Chief Executive Officer.

Andy Cronin, Chief Executive Officer, Avolon, commented: “We have traded over $10 billion of aircraft since our foundation in 2010, and we continue to see strong demand across all asset types. We are delighted to have completed this transaction with CDB Aviation and look forward to continuing our strong working relationship.”

“This transaction demonstrates our platform’s activity in the secondary market, which serves as an effective supplemental function that supports our fleet’s growth by adding new generation aircraft,” added Chen.

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 Avolon

Avolon is a leading global aviation finance company connecting capital with customers to drive the transformation of aviation and the economic and social benefits of global travel. We pride ourselves on our deep customer relationships, our collaborative tam approach, and our fast execution. We invest with a long-term perspective, diversifying risk and managing capital efficiently to maintain our strong balance sheet. Working with 145 airlines in 64 countries, Avolon has an owned, managed, and committed fleet of 1,033 aircraft, as of 31 March 2024. www.avolon.aero

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). www.CDBAviation.aero

Contacts

Paul Thibeau

[email protected]; +1 612 594 9844