The board of directors (the “Board”) of China Development Bank Financial Leasing Co., Ltd. (the “Company”) is pleased to announce that CDB Aviation Lease Finance DAC (“CDBALF”), a wholly-owned subsidiary of the Company, and certain wholly-owned subsidiaries and nominees of CDBALF, have entered into a purchase and leaseback agreement (the “Purchase and Leaseback Agreement”) with United Airlines, Inc. (“United”) on 22 September 2020, pursuant to which United agreed, among other things, to assign to the Lessor (as defined hereinafter) United’s right to purchase and take delivery of each of two (2) new Boeing 787-9 aircraft and ten (10) new Boeing 737-MAX8 aircraft (the “Aircraft”) from Boeing (as defined hereinafter) pursuant to the original purchase contract between United and Boeing. Each Aircraft will be leased back by the Lessor to United under an operating lease agreement upon delivery.
The Lessor expects to take delivery of the Aircraft under the Purchase and Leaseback Agreement between 2020 and 2021.
Source: CDB Aviation
Date: Sep 23, 2020
