Lessor’s Newest European Customer Will Leverage Aircraft for Fleet Modernization

Bucharest, Romania – June 27, 2024 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the signing of lease agreements for two Boeing 737 MAX 8 aircraft with a new customer, Romanian flag air carrier TAROM.

The two MAX aircraft, leased from CDB Aviation’s direct orderbook with Boeing, will support TAROM’s fleet modernization process, which is aimed to result in a standardized fleet and allow for a significant reduction in costs. The aircraft will be configured with 189 seats and scheduled to be delivered to the airline between December 2025 and January 2026.

“We look forward to forging a strong relationship with our newest European customer and one of the region’s oldest airlines, TAROM. Since its inception seven decades ago, TAROM is currently the longest operating airline of Romania, having played a central role in advancing the country’s aviation industry and its regional connectivity. With these MAX aircraft, TAROM will be able to continue to enhance its market position, while building one of the youngest fleets in the region,” commented Jie Chen, CDB Aviation’s Chief Executive Officer.

“We are thrilled to partner with CDB Aviation in our ongoing plans to modernize TAROM’s fleet, and the role of these two new Boeing 737 MAX 8 aircraft is to help us enhance operational efficiency and provide our passengers with a superior flying experience. We value CDB Aviation’s expertise and support for this investment, an important part of our company's development plan, in which the fleet update is a key element in bringing about a better commercial performance and growth outlook, and we are looking forward to introducing them in our regular flight planning,” commented Costin Iordache, TAROM’s Chief Executive Officer.