CDB Aviation Begins Deliveries of Six A330neo Aircraft to New Airline Customer Garuda Indonesia
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced the delivery of the first of six Airbus A330-900neo aircraft as part of a sale and leaseback transaction and on long-term lease to a new customer in Asia Pacific, the flag carrier of Indonesia, Garuda Indonesia (“Garuda”).
The fleet of six A330neo widebody airliners, equipped with latest generation Rolls-Royce Trent 7000 engines and configured in a two-class cabin layout with 24 seats in business and 277 seats in economy, will support the company’s growth and business expansion in the future.
“We are delighted to welcome Garuda to our growing Asia Pacific customer base,” noted CDB Aviation Head of Commercial, Asia Pacific Sign Kadouh. “These A330neos will deliver superior operating economics and extended range capability to position Garuda for the sustained growth in its medium and long-haul operations as the company continues its long-term strategy to compete in the industry.”
This first aircraft is expected to be joined in the carrier’s fleet by two further units by the end of 2019, with the remaining three aircraft slated for delivery in 2020. The aircraft, fitted with Airbus’ Airspace cabin and featuring aerodynamic enhancements and new cabin features, will support the carrier’s commitment to deliver the most modern, comfortable, and excellent air travel service to all customers.
Patrick Hannigan, CDB Aviation President & Chief Commercial Officer, added: “The scale of this transaction further demonstrates the strength and robust capabilities of our evolved global platform, offering competitive financing and flexible fleet solutions to airlines in the world’s fastest-growing air travel markets.”
Hannigan reiterated, “our well-established Asia team remains dedicated to expanding relationships to meet our airline partners’ ever-changing fleet needs, while remaining focused on monetizing opportunities for new technology aircraft and leveraging the sale-leaseback channel in the region.”
About Garuda Indonesia
Established since 1949 as a full-service airline and the flag carrier of Indonesia, Garuda Indonesia (“Garuda”) is spreading it wings over more regions and destinations with an ever-growing fleet and quality of service. As a global player in the aviation industry, Garuda Indonesia is recognized for its international and local achievements. www.garuda-indonesia.com
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), a 35-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A1), S&P Global (A), and Fitch (A+). China Development Bank is under the direct jurisdiction of the State Council of China and is the world’s largest development finance institution. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating.
CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China’s leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and marketize its business – listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606). www.CDBAviation.aero
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