Industry

Published on August 10th, 2021 | by Alan Dwyer

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CDB and Volaris Agreed Sale and Leaseback Deal

The Irish subsidiary of the China Development Bank Financial Leasing Co., Ltd., CDB Aviation has agreed to a sale and leaseback deal with the Mexican airline, Volaris. The deal is for four new Airbus A320neo aircraft, two of which will be delivered by October and the following two by May 2022. The deal for these aircraft is on a long term basis and will join the two already in service with the airline. Volaris started operations in 2006 and have a fleet of over 90 Airbus single-aisle family aircraft. The airline had initially stated operations as a domestic carrier but has now expanded to serve the United States and other countries in Central America. Volaris offers more than 460 daily flights on 180 routes across its network.

Commenting on the deal, CDB Aviation Head of Commercial for the Americas, Luís da Silva said, “We are very pleased to offer tremendous value to our existing customer, Volaris, by leveraging the financial strength of our balance sheet and platform’s ability to move quickly in today’s demanding market conditions. Deepening of our relationship with Volaris further advances our strategy to support Mexican airlines’ need for aircraft financing, as well as to gird up the ambitious development roadmap for the promising markets across Latin America.”

Also commenting was the CDB Aviation Chief Marketing Officer., Peter Goodman who added, “Our current prerogative is, first and foremost, to avail the carriers of the attractive financing conditions and provide the required capacity to meet a resurgence in demand. Our industry-leading financing solutions can be structured and executed expediently, within a matter of weeks, effectively addressing customers’ rapidly evolving requirements as they navigate the post-pandemic recovery.”

And the Executive Vice President. of Volaris Holger Blankenstein said, “Volaris will continue an aggressive strategy on growth and strong operational performance. Therefore, our fleet expansion is one of the main pillars of our ultra-low-cost model and will help us reinforce both local and international presence in all the markets we serve.”

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