Transaction Covers Three A320neos and One A350-900 with Near-Term Deliveries, Reinforcing Lessor’s Focus on Pursuing Emerging Opportunities
DUBLIN – June 29, 2020 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today a new transaction with its long-standing customer, Scandinavia’s largest airline SAS, for a fleet of four Airbus aircraft, including three A320neos and one A350-900. The deliveries of these aircraft are expected to occur between June 2020 and May 2022.
“We are very delighted to carry out yet another transaction with SAS for these Airbus aircraft,” said CDB Aviation Chief Marketing Officer Peter Goodman, elaborating that “we look forward to further assisting in the reshaping of SAS’ fleet, particularly in support of efforts to advance environmental sustainability goals for their fleet operations.”
Goodman underscored that the lessor’s commercial team is pointedly expanding outreach in all aviation markets, energetically pursuing emerging opportunities for aircraft transactions, including in the sale and leaseback channel. “Airlines can leverage the strength and robust scale of our platform and capabilities to access financing solutions that address their rapidly changing operating requirements during these unprecedented times,” added Goodman.
Torbjørn Wist, SAS Chief Financial Officer, commented: “SAS has worked together with CDB Aviation on several sale-and-leaseback transactions, and we are pleased that we have managed to secure the financing for these four aircraft together with Pat Hannigan and his team during this extraordinary market situation.”
Wist further elaborated that “continuing to add the A320neo and A350 aircraft types into the SAS fleet is an important step in SASˋ ambitious sustainability agenda.”
“Our highly competitive position among lessors offers unmatched access to the range of innovative financings the airlines need for both immediate and longer-term requirements as they navigate their way through a challenging environment,” asserted CDB Aviation Chief Executive Officer Patrick Hannigan.
“With the backing of our shareholder, CDB Leasing, and the unique resources of China Development Bank, our team is expressly poised to go the proverbial ‘extra mile’ in delivering the industry’s best professional, full-service support in these hard times,” concluded Hannigan.