CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing (CDB Leasing), has reported that the year 2020 marked a period of robust business activity despite the toughest market the aircraft leasing industry has ever experienced.
“The pandemic-battered environment has inflicted an array of unexpected and unparalleled challenges upon all stakeholders across the global air transport sector, generating significant near-term headwinds,” reflected CDB Aviation Chief Executive Officer Patrick Hannigan. “In the face of these adverse conditions, our team has persisted to attain continued growth and advance key initiatives, progressing several aspects of our long-term vision.”
During 2020, the team’s steadfast efforts and initiatives were reflected in the execution of 61 new leases and 16 lease extensions, 29 new aircraft acquisitions, including nine 737 MAX 8s, seven A321neos, six A320neos, five 737-800s, one 787-9, and A350-900. The company delivered 21 aircraft, worth US$1.2 billion, from sale and leaseback transactions and signed 23 additional aircraft commitments under sale and leaseback transactions, totaling US$1.2 billion, to be delivered in 2021 or 2022. CDB Aviation sold 18 aircraft and reported US$4.7 billion of financing transactions.
In addition, CDB Aviation contracted its first-ever A330-300 P2F freighter conversions, leading the market into this exciting new program, and delivered on the 2020 Management Plan to bolster capabilities as a top-tier platform through enhanced systems, policies, and processes, as well as key IT, analysis, reporting, and compliance projects, charting its course for the future.
As of December 31, 2020, CDB Aviation’s fleet consisted of 399 owned, managed, and committed aircraft, and its global customer network comprised 74 lessees across 37 jurisdictions. Frontier Airlines, United Airlines, and WestJet Airlines were among a number of new customers added in 2020. The company ended the year with a total of 122 employees.