DUBLIN--(BUSINESS WIRE)--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), detailed the lessor’s robust commercial activity and cost management and streamlining initiatives undertaken in 2024.
The lessor executed a total of 70 aircraft transactions in the prior year, underscoring the continued momentum in evolving its growing international platform.
Key 2024 highlights include:
- Executed 36 transactions for 70 new and used aircraft, covering leases and extensions, sale and leaseback deals, aircraft acquisitions and sales;
- Placed new OEM orders for 130 narrowbody aircraft;
- Added 9 new airline customers; and
- Raised $8.28billion in financing transactions.
“We ended this past year with strong momentum, buttressed with robust commercial activity reinforcing our strong position in the market and significant milestones achieved in building operational efficiency and managing costs,” commented CDB Aviation Chief Executive Officer Jie Chen. “These efforts are the cornerstone of our path to sustainable profitability and being a global leasing platform built on strong customer-centric relationships and shareholder support.”
The lessor has been prioritizing the mindset of putting the customer first, which resulted in the company’s reaching the highest number of customers in its history. CDB Aviation ended the year with a fleet of 521 owned and committed assets, with 307 aircraft under operating lease and 4 under finance lease to 71 airlines in 38 countries and regions. In addition, we placed 100% of new aircraft scheduled to be delivered in 2025 and have placed 90% of new aircraft to be delivered in 2026.
In 2024, CDB Aviation successfully placed orders with major OEMs for 130 narrowbody aircraft, which placed the lessor in the top echelon with one of the most significant orderbooks among lessors.
“These orders not only strengthened our position in the marketplace, but also demonstrated the trust placed in the platform by our shareholder to deliver results,” added Chen.
In addition to the above committed aircraft, CDB Aviation’s shareholder has 70 non-binding entitlements with The Commercial Aircraft Corporation of China, Ltd. (“COMAC”), consisting of 20 C909 aircraft and 50 C919 aircraft.
CDB Aviation believes that the entry of other airframe OEMs has the potential to benefit the aviation industry, providing not only alternative sources of aircraft, but also driving the principal aircraft manufacturers to improve their product offerings. As a global Chinese lessor, CDB Aviation recognizes that having additional airframe OEMs will stimulate innovation, technological advancements and competition. In particular, the C919 development offers COMAC a unique opportunity to become a potential global player. With its promising new aircraft program, COMAC must build a diversified global customer base and a strong after sale support program, as well as develop reliable supply-chain partnerships.
This past year, CDB Aviation completed two sustainability linked financing transactions for a total amount of $1.2 billion, bringing the total of sustainability linked financing to $1.8 billion. CDB Aviation has won numerous awards for these transactions, including the 2024 Airline Economics ‘Sustainability Aviation Debt Deal of the Year’ and ‘Sustainability Aircraft Lessor of the Year’ awards.
By enhancing transparency and collaboration, CDB Aviation drove greater efficiency and productivity across all levels of the company, resulting in the quicker and more effective decision-making processes demonstrated by the increased number of deals signed throughout 2024.
“As we chart the path ahead, putting the customer first will remain our top priority underpinned by disciplined operational efficiency. I would like to thank the CDB Aviation team for their engagement and embracing this transformational shift in how we do business. I am confident that we will continue our positive momentum with the shareholder support and the right focus,” concluded 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 CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a 40-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
