CDB Aviation and Volaris Agree to Sale and Leaseback of 4 Ne
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CDB Aviation and Volaris Agree to Sale and Leaseback of 4 New A320neo Aircraft

Transaction with Mexico's Number One Airline Reinforces Lessor's Commitment to Supporting Airlines as Market Recovery Continues

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced the signing of a new agreement with Mexico’s number one airline, Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (“Volaris”), for the sale and leaseback of four new Airbus A320neo aircraft.

The aircraft, two of which are scheduled to deliver to Volaris by October 2021, with the remaining two expected to arrive by May 2022, are leased on a long-term basis, bringing the total of CDB Aviation aircraft on lease to the carrier to 6.

Luís da Silva, CDB Aviation Head of Commercial, Americas, said: “We are very pleased to offer tremendous value to our existing customer, Volaris, by leveraging the financial strength of our balance sheet and platform’s ability to move quickly in today’s demanding market conditions.”

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The neos will support the optimization of the carrier’s fleet plan as it targets to reinforce its low-unit cost operating model to meet post-COVID-19 traffic requirements in alignment with the company’s sustainability strategy.

“Volaris will continue an aggressive strategy on growth and strong operational performance. Therefore, our fleet expansion is one of the main pillars of our ultra-low-cost model and will help us reinforce both local and international presence in all the markets we serve,” said Holger Blankenstein, Volaris’ Executive Vice President.

The fuel-efficient, new technology aircraft will be deployed primarily to strengthen Volaris’ leadership position in the Mexican domestic market, enabling the airline to seize opportunities as vaccination programs gain momentum and confidence in air travel accelerates.

“Deepening of our relationship with Volaris further advances our strategy to support Mexican airlines’ need for aircraft financing, as well as to gird up the ambitious development roadmap for the promising markets across Latin America,” added da Silva.

“Our current prerogative is, first and foremost, to avail the carriers of the attractive financing conditions and provide the required capacity to meet a resurgence in demand,” emphasized Peter Goodman, CDB Aviation Chief Marketing Officer. “Our industry-leading financing solutions can be structured and executed expediently, within a matter of weeks, effectively addressing customers’ rapidly evolving requirements as they navigate the post-pandemic recovery.”

Source: CDB Aviation
Date: Aug 9, 2021
View original News release


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