CDB Aviation Closes Sale and Leaseback for One A350-900 with Air France

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. ("CDB Leasing”), announced today the closing of a sale and leaseback transaction for one Airbus A350-900 aircraft with returning airline customer Air France.

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The Airbus A350-900, named "Cherbourg-en-Cotentin,” on lease from CDB Aviation will support Air France’s ongoing efforts to renew its fleet with modern and fuel-efficient aircraft. (Photo: Business Wire)

"We are delighted to welcome Air France back to our customer family in the EMEA region,” commented Jie Chen, CDB Aviation Chief Executive Officer. "This innovative transaction marks our platform’s first lease agreement with an airline customer underpinned by sustainability-linked KPIs in relation to the airline’s ongoing fleet transformation to newer-tech aircraft.”

The Airbus A350-900, named "Cherbourg-en-Cotentin,” features 292 seats, including 48 business, 32 premium, and 212 economy seats. The widebody aircraft will contribute to the airline’s ongoing efforts to renew its fleet with modern and fuel-efficient aircraft, enabling Air France to achieve a significant reduction in fuel consumption and CO₂ emissions.  

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 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

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