This news is classified in: Aerospace Aviation Contracts Commercial Aircraft
Oct 6, 2020
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today an extension of the company’s relationship with Wizz Air Holdings Plc (“Wizz Air;” WIZZ.L) with an additional sale and leaseback transaction for a batch of six Airbus A321neo aircraft.
Wizz Air is expected to receive four A321neos in the fourth quarter of 2021, with the remaining two slated for the second quarter of 2022. The aircraft are powered by Pratt & Whitney GTF engines and similarly configured with the widest single-aisle cabin with 239 seats in a single-class layout.
“We are very pleased that the Wizz Air team has again elected to turn to our platform for the financing of these additional aircraft in the sale and leaseback channel,” stated Paul Boyle, CDB Aviation’s Head of Europe, the Middle East & Africa.
By Type (Electronic Ignition System, Magneto Ignition System), By Component (Exciters, Igniters, Ignition Leads, Spark Plugs, Others), By Engine Type (Reciprocating Engine, Turbine Engine), By Region, Competition, 2019-2029F
Download free sample pagesWizz Air, the largest Airbus customer of the A321neo variant, attributed the selection of CDB Aviation for this repeat transaction in these challenging times facing the airline and the broader industry to “our team’s ability to expediently meet the need for financings with the utmost reliability and the speed of execution,” underscored Boyle.
The announcement comes on the heels of a recently executed agreement for four A321neos between the lessor and the carrier, bringing the total of the type under lease agreements to ten.
Peter Goodman, CDB Aviation Chief Marketing Officer, asserted that the scale of these combined transactions is “evidence of the robust capabilities of our evolved leasing platform and our highly competitive position among global lessors to rapidly meet airlines’ changing needs.”
“The tireless focus of our commercial team continues to be on finding ways to deliver wide-ranging and innovative solutions to the world’s airlines as they strategize their pathways through the air travel sector’s nascent recovery and position their fleets for post-pandemic realities,” concluded Goodman.
“We are delighted to have signed just another deal with CDB Aviation,” said András Sebok, Chief Supply Chain Officer of Wizz Air. “We are confident that the cooperation between the two companies will continue to be a great success thanks to the smooth and seamless relationship with CDB Aviation.”
