Sale and Leaseback Transaction Supports Maximizing Middle East Carrier’s Post-Pandemic Growth Trajectory
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the final delivery of a new Boeing 737 MAX 8 aircraft in a series of five deliveries contracted as part of a sale and leaseback transaction with Oman Air, the national airline of the Sultanate of Oman.
The aircraft, equipped with the CFM Leap 1B27 engines and configured with 12 business and 150 economy class seats, will support the carrier’s ever-expanding network. Oman Air has been introducing routes throughout the Middle East and the Indian Subcontinent, as well as several cities in Europe, South Asia, and Africa, in recent years and is focused on growing additional connectivity to North and South America and Australia.
“We are very pleased to build on our relationship with Oman Air and to expand our presence in the Middle East with this sale and leaseback transaction,” said Paul Boyle, CDB Aviation’s Head of EMEA. “These new technology, fuel-efficient aircraft will support the airline’s ongoing recovery efforts, providing the airline’s passengers with greater connectivity and a wider choice of destinations from its hub in Muscat.”
“As air travel demand continues to grow post-pandemic, Oman Air has the opportunity to expand progressively. The latest addition to our fleet will serve both domestic and short-to-medium international sectors, further extending our seamless connectivity to a growing number of destinations,” commented AbdulAziz Al Raisi, Chief Executive Officer of Oman Air. “We are glad to have CDB Aviation as our partner in growth and continue to place ourselves at the forefront of aviation technology, enhance our operational efficiency, as well as provide our guests with an exceptional on-board experience.”
Peter Goodman, CDB Aviation’s Chief Marketing Officer, concluded: “As the airlines’ ongoing recovery continues, members of our commercial team are working relentlessly with airline teams across all markets to support the financing needs of their fleets and commercial operations to take full advantage of post-pandemic growth opportunities.”
Forward-Looking Statements
This press release contains certain forward-looking statements, beliefs or opinions, including with respect to CDB Aviation’s business, financial condition, results of operations or plans. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ”may,” “will,” “seek,” “continue,” “aim,” “anticipate,” “target,” “projected,” “expect,” “estimate,” “intend,” “plan,” “goal,” “believe,” “achieve” or other terminology or words of similar meaning. These statements are based on the current beliefs and expectations of CDB Aviation’s management and are subject to significant risks and uncertainties. Actual results and outcomes may differ materially from those expressed in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.
About Oman Air
Oman Air (WY), the national airline of the Sultanate of Oman, began operations in 1993. Initially founded to serve important domestic routes, it has since undergone rapid growth and is today recognised as a major international carrier connecting cities around the world to Oman’s stunning nature, rich heritage and welcoming culture. The award-winning airline has been instrumental in transforming Muscat into one of the middle East’s most desirable travel destinations, while supporting adjacent commercial, industrial and tourism activities. With a young and modern fleet including, among others, fuel-efficient Boeing 737 and 787 Dreamliner aircraft, which feature luxuriously appointed interiors, Oman Air is renowned for its exceptional products and services, both in the air and on the ground, and for the signature Omani hospitality it offers to every guest throughout their journey. www.omanair.com
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a 38-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A2), S&P Global (A), and Fitch (A+). 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20230217005347/en/
@CDBAviation has delivered the last of five @Boeing 737 MAX 8 aircraft as part of a sale and leaseback transaction with @omanair, the national airline of the Sultanate of Oman #aviation #aircraftleasing #EMEA #OmanAir
Contacts
Paul Thibeau
Paul.THIBEAU@CDBAviation.aero; +1 612 594 9844
