CDB Aviation, the wholly-owned subsidiary of China Development Bank Financial Leasing has completed delivery of a fleet of 15 new Boeing aircraft to United Airlines Holdings under a sale and leaseback transaction covering two 787-9 Dreamliners and 13 737 MAX 8 aircraft, which were delivered between 2020 and 2021.

‘We want to thank members of both the United and CDB Aviation teams who collaborated on structuring and expediently executing this complex transaction during a particularly challenging period for the industry,’ said Peter Goodman, CDB Aviation Chief Marketing Officer.

United is the world’s fourth largest airline by revenue and, while the deal reflected a further expansion of the lessor’s footprint in the Americas, Goodman emphasized the transaction’s importance in “supporting United management’s efforts to streamline their fleet and enhance operating economics as they work toward the resumption of sustained, long-term growth.’

The two 787-9s are powered by General Electric GEnx engines and configured in a 257-seat layout with the new Polaris and Premium Plus cabins. As air travel returns, these widebody aircraft are expected to deliver the advantages of lower fuel consumption and efficient economics to open new routes and markets.

The 13 737 MAX 8 aircraft, powered by CFM International’s LEAP-1B engines, feature a total of 166 seats in a 2-cabin layout. The MAXs are operated on the carrier’s short- and medium-haul missions, delivering a reduced environmental impact and an enhanced passenger experience as United advances its long-term strategy to further entrench domestic operations.

As part of its growth in the US CDB Aviation has completed delivery of a fleet of 15 new Boeing aircraft to United Airlines Holdings, including two 787-9 Dreamliners

‘The onset of COVID-19 ushered in the most challenging period in the history of the aviation industry,’ said Pam Hendry, United’s Vice President and Treasurer. ‘We are thankful for the partnership we established with CDB Aviation and appreciate their willingness and ability to support United in a meaningful way during this global pandemic.’

‘This mandate demonstrated our evolved platform’s robust capabilities and scale as well as our highly competitive position among global lessors,’ said CDB Aviation CEO Patrick Hannigan. ‘Our commercial team remains focused on identifying ways to deliver wide-ranging and innovative solutions to top-tier airlines, such as United, as they navigate their pathways through the air travel sector’s nascent recovery and position their fleets for post-pandemic realities, with operating economics and sustainability top of mind.’

In late December CDB Aviation delivered the first of two Boeing 737-800 aircraft to Sun Country, a Minnesota-based, hybrid low-cost airline. The aircraft are configured with 183 seats in a single economy-class layout and will be operated on seasonal, point-to-point routes. The second aircraft’s delivery is anticipated in early 2022. ‘We’re delighted to have partnered with our colleagues at Sun Country on executing this transaction for two Boeing aircraft from our portfolio, which will facilitate the further build-out of the carrier’s highly-adaptable network structure,” said Luis da Silva, CDB Aviation’s Head of Commercial, Americas.

Based in Minnesota, Sun Country’s focus is on serving leisure and visiting friends and relatives passengers and charter customers and providing CMI service to Amazon, with flights throughout the United States and to destinations in Mexico, Central America, Canada, and the Caribbean.

CDB Aviation has also signed international aircraft lease agreements with Colombia’s flag carrier Avianca for a fleet of five Airbus A320neo aircraft. With deliveries from the lessor’s order book planned for 2022 and 2023, the aircraft are leased on a long-term basis and configured with three different seat types: Premium, Plus, and Economy.

“We are delighted to strengthen our partnership with the longest running airline in the Americas through a transaction that will help drive the carrier’s new strategy, with environmentally sustainable, new technology aircraft,’ da Silva commented. ‘These new technology aircraft will advance Avianca’s commitment to the environment and position the airline for a very bright future amidst the ensuing recovery.’Francisco Raddatz, Avianca's Vice President, Fleet, said: ‘We value CDB Aviation's support and confidence in our new business model and we are happy to continue incorporating new technology aircraft that will support our network growth reducing the environmental footprint.’

CDB Aviation’s commercial team continues to expand outreach to carriers in all aviation markets, pursuing aircraft transactions through placements from its order book as well as identifying opportunities in the sale and leaseback channel.

Peter Goodman, CDB Aviation Chief Marketing Officer, noted: ‘With the gradual easing of travel restrictions and accelerating vaccination programmes across the Americas, the region’s airlines are increasingly gearing up for a recovery with more versatile fleets that can provide network flexibility, maximize capability while minimizing risk, and improving efficiency and sustainability.

‘Our team continues to be focused on availing the carriers of the attractive financing conditions and access to the required capacity to meet a resurgence in demand. We are ready and able to execute major, complex transactions in support of our customers to address their rapidly evolving requirements and position their networks for efficient recovery.’

Earlier in December CDB Aviation announced the delivery of an Airbus A320-200 aircraft to a significant new customer in the Americas region, Las Vegas-based ULCC Allegiant.
The aircraft will enter service, configured with 186 economy seats, to support the carrier’s business model of point-to-point commercial air service linking small city airports to leisure destinations across the US.