Nov 27, 2018   SOURCE: BusinessWire

CDB Aviation and Evelop Airlines Sign Lease Agreement for One A330-300 Aircraft

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), today announced that the company entered into a lease agreement with Palma de Mallorca-based Evelop Airlines (“Evelop”), covering one Airbus A330-300 aircraft.

“We are pleased to welcome our new customer, Evelop Airlines, to CDB Aviation’s rapidly expanding European customer base,” said CDB Aviation Chief Commercial Officer Patrick Hannigan. “This widebody aircraft will bolster the airline’s fleet as it continues its ambitious growth and expansion of its flight network connecting European passengers to destinations in the Caribbean.”

“Evelop is delighted to have entered into this dry operating lease agreement with CDB Aviation for its 6th aircraft, with this particular aircraft being our 5th widebody. CDB Aviation has been a very comprehensive lessor, understanding the needs of our airline and having worked very closely with our team in order to build a win-win transaction for both parties. We expect that this becomes the start of a long-term relationship between the two companies,” commented Evelop Chief Financial Officer Fabián Hernánde.

This latest transaction demonstrates CDB Aviation’s stalwart commitment to building and cultivating relationships with airlines in all key markets around the world. Hannigan concluded: “As our platform expands globally, we continue to deliver a full suite of operating lessor products that meet wide-ranging customer needs and ensure growth with access to a diverse fleet and attractive near-term delivery positions for new technology aircraft.”

About Evelop Airlines

Evelop Airlines is a Spanish airline based in Palma de Mallorca, with an operating base at Madrid Barajas Airport. The airline is a subsidiary of travel and tourism conglomerate, Avoris Travel Group, and operates scheduled and charter services in collaboration with fellow group carrier, ORBEST (Portugal), on behalf of tour operators. www.evelop.com

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”) a 34-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.

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). www.CDBAviation.aero