Nanning, China – July 30, 2024 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced the delivery of the first of two Airbus A320-200neo aircraft on lease to a new Chinese airline customer, Nanning-based Guangxi Beibu Gulf Airlines (“Beibu Gulf Airlines;” a.k.a. “GX Airlines”).

The first LEAP-1A26 engine-equipped aircraft was delivered to the HNA Group-affiliated subsidiary in July 2024, with the second aircraft anticipated to be received by the carrier in September 2024. With the addition of CDB Aviation’s two A320neos, Beibu Gulf Airlines will now have 17 A320 Family aircraft, including eleven A320s and six A320neos.

“We are delighted to strengthen our partnership with the HNA Group, while welcoming one of their subsidiary airlines as a new customer in China,” commented Jie Chen, CDB Aviation’s Chief Executive Officer. “These new technology aircraft, boasting lower fuel consumption and superior operating characteristics, will advance Beibu Gulf Airlines’ fleet growth.”

“China’s commercial aviation market demand is strong, while global aircraft resources are scarce. In this opportunity and challenge, Beibu Gulf Airlines is pleased to establish a friendly cooperative relationship with CDB Aviation,” said Li Rongkui, President of Beibu Gulf Airlines. “On the premise of continuously improving service quality, operational management capabilities, comprehensive service guarantee capabilities, as well as ensuring safety, Beibu Gulf Airlines will continue to introduce aircraft and open more routes to serve local economic development. We look forward to more cooperation with CDB Aviation in the future.”

“Our team continues to be focused on providing attractive financing solutions to carriers in all aviation markets, pursuing aircraft transactions that add versatility to our airline customers’ fleets while improving efficiency and sustainability of their networks,” added Chen.