CDB Aviation Leases 2 New A320neos to New Customer Azerbaija
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This news is classified in: Aerospace Aviation Commercial Aircraft

Jun 17, 2024

CDB Aviation Leases 2 New A320neos to New Customer Azerbaijan Airlines

  • Aircraft to Support Fleet Modernization of One of the CIS Countries' Largest Carriers

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the execution of lease agreements for two Airbus A320neo aircraft with a new customer and one of the largest carriers in the Commonwealth of Independent States (the “CIS”) countries, Azerbaijan’s national air carrier, Azerbaijan Airlines (“AZAL”).

The A320-251 aircraft will be scheduled to be delivered in June and July 2025 and will support the airline’s fleet renewal strategy targeted to equip the carrier with the most modern and fuel-efficient aircraft.

“This new partnership with AZAL is an important milestone for our platform, as it marks our very first transaction within Azerbaijan, as well as the addition of a new customer in the region,” commented Jie Chen, CDB Aviation’s Chief Executive Officer. “We are confident that the selection of these latest generation A320neo Family aircraft will further boost AZAL’s sustainable growth, providing passengers with excellent comfort throughout its fleet.”

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“The signing of these two leases marks the start of our fleet replacement to the most modern aircraft and interiors. Our passengers will be delighted with what can be achieved in the NEO cabin, with their increased comfort and enjoyment. It’s been a pleasure working with CDB Aviation, and we look forward to taking delivery of the Airbus aircraft in the summer of 2025,” said AZAL President, Samir Rzayev.

“I would like to thank the AZAL and CDB Aviation teams for their excellent collaboration on both sides of this transaction and their outstanding efforts, hard work, and dedication in getting these lease agreements over the finish line,” added Chen.