DUBLIN – March 29, 2021 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced a new sales and leaseback transaction for a fleet of four Airbus aircraft with its existing customer, Scandinavia’s flagship airline, SAS.
The agreement incorporates three A320neo and one A350-900 aircraft. The carrier already took delivery of the A350, with the A320neo aircraft expected to be delivered in the near term.
“We are pleased to expand our long-standing relationship with SAS, with the addition of these new technology Airbus aircraft on long-term lease,” said CDB Aviation Chief Marketing Officer Peter Goodman. “These aircraft will aid the SAS team’s efforts as they reshape their fleet with a focus on sustainability and environmental stewardship and adapt their operations to the travel market’s post-pandemic realities.”
“SAS has previously worked together with CDB Aviation Lease Finance for other S&L transactions, and we are glad that we have secured financing of new aircraft deliveries together with Pat Hannigan and his team. The financing enables financing of our transition towards a unified fleet with significantly lower emissions in a cost and cash efficient way.” says Magnus Örnberg, CFO of SAS.
CDB Aviation’s commercial team continues to expand outreach, pursuing emerging opportunities for aircraft transactions, including in the sale and leaseback channel, in all aviation markets.
“As air travel markets open up and route networks are reactivated, innovative financings for the airlines’ both immediate and longer-term requirements will be key to enabling the market’s recovery, while ensuring that the airlines are able to successfully navigate their path out of this challenging environment,” underscored Patrick Hannigan, CDB Aviation’s Chief Executive Officer.
Airlines leverage CDB Aviation’s highly competitive position, with the strength and robust scale of its resources and capabilities, to “address their rapidly evolving requirements and position their networks for efficient recovery and successful future operations,” concluded Goodman.