CDB Aviation and SpiceJet Sign Lease Agreement for 5 737 MAX Aircraft

CDB Aviation Lease Finance DAC (“CDB Aviation”), a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), today announced that the company signed an agreement with India’s low-cost carrier SpiceJet Ltd (“SpiceJet”) for the long-term lease of five Boeing 737 MAX 8 aircraft. All five aircraft are from CDB Aviation’s order book with Boeing, and are expected to deliver to the airline in 2019.

“This lease agreement for a fleet of five 737 MAX 8s marks the beginning of a strong and lasting relationship with our newest partner SpiceJet, based on mutual trust, respect, and commitment to advancing reciprocal growth,” said CDB Aviation President and Chief Executive Officer Peter Chang. “Much like CDB Aviation, SpiceJet has recently been on a robust growth path, enjoying major success in enhancing customer-centricity and strengthening operations. We look forward to supporting the airline management’s vision to be one of India’s most advanced airlines, operating in the fastest growing aviation market in the world.”

CDB Aviation’s order book with Boeing currently comprises 78 737 MAX family aircraft. In 2017, CDB Aviation became one of the launch customers of the MAX 10 variant, which further demonstrated the company’s steadfast efforts to advance its global mission and deliver the latest technology aircraft to current and prospective customers.

“The 737 MAX family represents some of the most advanced, fuel-efficient aircraft in the world today. With our sizeable order position, we are confident that the MAX will play an important role in growing CDB Aviation’s aircraft portfolio and delivering superior performance and economics to our customers worldwide,” added Chang.