Dec 21, 2017   SOURCE: BusinessWire

CDB Aviation Delivers First of Three New A320neo Aircraft to AirAsia Berhad

CDB Aviation Lease Finance DAC (“CDB Aviation”), a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the delivery of a new Airbus A320neo aircraft to Malaysia-based low-cost carrier AirAsia Berhad, as part of a purchase and leaseback transaction for three aircraft.

The A320neo aircraft, powered by CFM LEAP-1A engines, seat 186 passengers and are equipped with the innovative Space-Flex cabin. The aircraft will serve AirAsia Berhad’s extensive network out of Kuala Lumpur, Malaysia.

“We are delighted to execute a transaction with our newest customer, AirAsia Berhad, for a fleet of three A320neo aircraft, which will support the carrier’s growth and fleet expansion,” said CDB Aviation President and Chief Executive Officer Peter Chang. “The A320neo aircraft constitute a significant part of our forward order book, as we recently doubled our overall order position for the aircraft family. CDB Aviation is now well positioned to serve our airline customers, like AirAsia Berhad, in key markets around the world, to meet their fleet requirements for the latest technology, fuel-efficient narrowbody aircraft.”

CDB Aviation’s order book comprises a total of 90 A320neo Family aircraft, including 32 A321neo and 58 A320neo aircraft.

About AirAsia

AirAsia, the leading and largest low cost carrier in Asia by passengers, services an extensive network of over 120 destinations. Since starting operations in 2001, AirAsia has carried more than 330 million guests and has grown its fleet from just two aircraft to over 200. The airline is proud to be a truly ASEAN (Association of Southeast Asian Nations) airline with operations based in Malaysia, Indonesia, Thailand and the Philippines as well as India and Japan, servicing a network stretching across Asia, Australia and New Zealand and the Middle East. AirAsia has been named the World’s Best Low Cost Airline at the annual Skytrax World Airline Awards eight times in a row from 2009 to 2016. AirAsia was also awarded World's Leading Low Cost Airline for the fourth consecutive year at the 2016 World Travel Awards, where it also beat a field of full service carriers to become the first ever low cost carrier to win World's Leading Inflight Service. www.airasia.com

About CDB Aviation

CDB Aviation Lease Finance DAC (“CDB Aviation”) is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”) a 33-year-old Chinese leasing company that is backed mainly by the China Development Bank. China Development Bank is under the direct jurisdiction of the State Council of China and is the world’s largest development finance institution. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating. www.cdbaviation.aero

CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China’s leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and marketize its business – listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606).