Bombardier Aerospace today confirmed that CDB Leasing Co., Ltd. (“CDB Leasing”), a subsidiary of China Development Bank (“CDB”), is the ultimate beneficial owner of the entity previously unidentified as the customer who placed an order for five Global 6000 jets on December 21, 2012. The firm order is valued at approximately $293 million US based on the 2012 list price for typically equipped aircraft.
“We are honoured that CDB has put its trust in our products,” said Steve Ridolfi, President, Bombardier Business Aircraft. “Our Global aircraft are renowned in China and worldwide for their unparalleled performance, comfort and range. We are delighted that once again, Bombardier products are selected for key business expansion by business leaders in China”.
CDB Leasing is known to be the sole leasing arm of CDB, as well as the first leasing company in China with the largest asset value. Aviation leasing is CDB Leasing’s core and most mature business sector with international reach. CDB was established by the Chinese government to support the country’s economic development. The institution provides medium to long-term financing facilities that assist in the development of a robust economy and a healthy, prosperous community. It aligns its business focus with national economic strategy and allocates resources to break though bottlenecks in China’s economic and social development.
“We are very positive about the general aviation market, especially in China,” said Mr. Wang Chong, Chairman, CDB Leasing. “The relationship between CDB Leasing and Bombardier on Global 6000 jets is also the beginning of our new endeavour in the business aviation industry. The advantage of CDB Leasing in the financial area and its worldwide platform will further highlight Bombardier’s business aircraft portfolio in the Chinese market.”
Source: Bombadier Aerospace
Date: Feb 28, 2013