CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced a new sale and leaseback transaction for a fleet of four Airbus aircraft with its existing customer, Scandinavia’s flagship airline, SAS.
The agreement incorporates three A320neo and one A350-900 aircraft, which are leased to SAS on a long-term basis. The carrier already took delivery of the A350 on Friday, March 26, 2021. The remaining three A320neos are expected to be delivered during the spring of 2022.
“We are pleased to expand our long-standing relationship with SAS, with the addition of these new technology Airbus aircraft to the carrier’s growing one-type fleet,” said CDB Aviation Chief Marketing Officer Peter Goodman. “These aircraft will contribute to SAS’ ongoing efforts to transition their fleet to more environmentally conscious operations, with their fleet’s reduced environmental footprint and enhanced cost efficiencies.”
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Magnus Örnberg, Chief Financial Officer of SAS, commented: “SAS has previously worked together with CDB Aviation on SLB transactions, and we are glad that we have secured the financing of new aircraft deliveries together with Patrick Hannigan and his team. The transaction enables the financing of our transition towards a unified fleet, with significantly lower emissions in a cost and cash efficient way.”
CDB Aviation’s commercial team continues to expand outreach, pursuing emerging opportunities for aircraft transactions, including in the sale and leaseback channel, in all aviation markets.
“As air travel markets open up and route networks are reactivated, innovative financings for the airlines’ both immediate and longer-term requirements will be key to enabling the market’s recovery, while ensuring that the airlines are able to successfully navigate their path out of this challenging environment,” underscored Patrick Hannigan, CDB Aviation’s Chief Executive Officer.
Airlines leverage CDB Aviation’s highly competitive position, with the strength and robust scale of its resources and capabilities, to “address their rapidly evolving requirements and position their networks for efficient recovery and successful future operations,” concluded Goodman.
Source: CDB Aviation
Date: Mar 29, 2021