Sale and Leaseback Transaction Supports Maximizing Middle East Carrier’s Post-Pandemic Growth Trajectory
DUBLIN – March 1, 2023 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the final delivery of a new Boeing 737 MAX 8 aircraft in a series of five deliveries contracted as part of a sale and leaseback transaction with Oman Air, the national airline of the Sultanate of Oman.
The aircraft, equipped with the CFM Leap 1B27 engines and configured with 12 business and 150 economy class seats, will support the carrier’s ever-expanding network. Oman Air has been introducing routes throughout the Middle East and the Indian Subcontinent, as well as several cities in Europe, South Asia, and Africa, in recent years and is focused on growing additional connectivity to North and South America and Australia.
“We are very pleased to build on our relationship with Oman Air and to expand our presence in the Middle East with this sale and leaseback transaction,” said Paul Boyle, CDB Aviation’s Head of EMEA. “These new technology, fuel-efficient aircraft will support the airline’s ongoing recovery efforts, providing the airline’s passengers with greater connectivity and a wider choice of destinations from its hub in Muscat.”
“As air travel demand continues to grow post-pandemic, Oman Air has the opportunity to expand progressively. The latest addition to our fleet will serve both domestic and short-to-medium international sectors, further extending our seamless connectivity to a growing number of destinations,” commented AbdulAziz Al Raisi, Chief Executive Officer of Oman Air. “We are glad to have CDB Aviation as our partner in growth and continue to place ourselves at the forefront of aviation technology, enhance our operational efficiency, as well as provide our guests with an exceptional on-board experience.”
Peter Goodman, CDB Aviation’s Chief Marketing Officer, concluded: “As the airlines’ ongoing recovery continues, members of our commercial team are working relentlessly with airline teams across all markets to support the financing needs of their fleets and commercial operations to take full advantage of post-pandemic growth opportunities.”