CDB Aviation Delivers First of Six Aircraft to TAP

DUBLIN – December 6, 2018 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), today announced that the company began delivery of a fleet of six Airbus aircraft to Portugal’s leading airline, TAP Air Portugal (“TAP”).

The first aircraft delivered to the carrier in November is a new Airbus A321neo, which is part of a lease agreement for a total of four aircraft of the type. The second A321neo is expected to deliver by year-end, with the remaining two aircraft slated for arrival in 2019.

In addition, in April 2018, CDB Aviation and TAP entered into a purchase and leaseback agreement for two Airbus A330-900neo aircraft. The two widebodies are expected to deliver in the second quarter of 2019.

“This aircraft delivery supports our important partnership between CDB Aviation and one of the world’s leading airlines, TAP,” said CDB Aviation Chief Commercial Officer Patrick Hannigan. “The addition of these narrowbody and widebody aircraft will support the carrier’s vision of accelerated capacity growth, enabling the airline to launch new routes. We look forward to building our ongoing close relationship with TAP, delivering supportive financing solutions to aid its growth in the years ahead.”

Hannigan added: “TAP is among many airlines in CDB Aviation’s rapidly expanding global customer network who benefit from our company’s fast-evolving and industry-leading, full-service platform. Today, CDB Aviation boasts an in-demand portfolio and a strong orderbook for the latest generation aircraft, capable of meeting diverse customer needs and providing attractive near-term delivery positions.”