CDB Aviation and T'way Air Sign Lease Agreements for 2 737 M
Stay informed with our
free newsletters

This news is classified in: Aviation Commercial Aircraft

Jun 5, 2023

CDB Aviation and T'way Air Sign Lease Agreements for 2 737 MAX 8 Aircraft

  • Aircraft to Be Delivered to South Korean Carrier from Lessor's Orderbook

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the signing of lease agreements for a duo of brand-new Boeing 737 MAX 8 aircraft with South Korea’s T’way Air (“T’way”).

Delivering from the lessor’s orderbook with Boeing, the South Korean carrier is expected to take delivery of the two aircraft between January and November 2024.

“We’re pleased to be strengthening our relationship with T’way, one of the fastest growing low-cost carriers in South Korea, with this transaction for two MAX aircraft. Our commercial team continues to be focused on expanding our reach in the region, working collaboratively with carriers to support their immediate and longer-term fleet needs,” commented CDB Aviation Chief Marketing Officer Peter Goodman.

Commercial Aircraft Disassembly, Dismantling & Recycling Market Report 2023-2033

Commercial Aircraft Disassembly, Dismantling & Recycling Market Report 2023-2033

Forecasts by Materials Recycling and Recovery Services (Metal Material Recycling, Composite Material Recycling), by Disassembly and Dismantling Services (Aircraft Disassembly, End-of-Life Aircraft Decommissioning, Salvage and Recovery Operations), by Type (Widebody Jet, Narrow-body Jet, Regional Jet, Turboprop), by Business Type, by Component Resale and Aftermarket Sales (Avionics Resale and Refurbishment, Landing Gear Resale and Refurbishment, Engine Resale and Overhaul Services, Interior Components Resale, Secondary Market Parts Sales, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis

Download free sample pages

T’way commenced service with the 737 MAX 8 in January 2023 upon inducting its first aircraft of the type in December 2022, which was configured with 189 single-class economy seats. The carrier currently operates the MAX on multiple international routes, connecting Incheon with Philippines, Singapore, and Thailand. According to T’way, the extended range of the MAX will enable it to fly to farther-off locations such as Indonesia, and Central Asia.

“It is a great pleasure to strengthen our relationship with CDB Aviation. We anticipate expanding our fleet by replacing our NGs with MAXs, thereby ensuring a delightful passenger experience with these highly efficient aircraft. We hope that CDB Aviation will support us in accomplishing this strategic plan,” commented T’way Chief Executive Officer Hong Geun Jeong.

“The teams on both sides have worked hand-in-hand to build a strong relationship between our companies, executing on the potential deal opportunities that effectively leverage the strength of our leasing franchise and access to new-gen aircraft to support T’way’s network expansion,” added Jie Chen, CDB Aviation Chief Executive Officer. “We’re continuing to grow our global footprint, building trusted relationships with airlines across all key markets. This campaign was one of the rare MAX skyline placement campaigns in the region, and we’re thrilled to be expanding business with T’way.”