CDB Aviation Leases Six A320NEOs to Air India
CDB Aviation Limited has announced on the sidelines of the Airline Economics Growth Frontiers Asia Pacific 2022 conference the signing of lease agreements for a fleet of six Airbus A320neo aircraft with Air India. CDB Aviation is among the first aircraft leasing companies to secure the placement of Air India’s additional A320neo aircraft under the recently announced multi-stage transformation plan since the purchase of the airline by Tata group, which aims to increase the carrier’s fleet and help it boost both domestic and international operations. The aircraft will be delivered in the second half of 2023.
Commenting as the deal was announced, CDB Aviation’s Head of Asia Pacific, Ryan Barrett said, “Our commercial team is delighted to have worked closely with Air India to help solve their fleet requirements with these new Airbus narrowbody aircraft from our orderbook. These fuel-efficient, new generation aircraft are well suited to support Air India’s fleet revitalization initiatives, positioning the airline for sustained growth and profitability.’’
Also commenting on the agreement was the Chief Commercial Officer of Air India, Nipun Aggarwal who said: “This is an important agreement, which will help us to strengthen our fleet with state-of-the-art aircraft. This will boost our connectivity, especially on the short and medium-haul routes, and is an important step ahead in our transformation journey.”
And the Chief Commercial Officer at CDB Aviation PeterGoodman added, “India is an increasingly important region for CDB Aviation, being the second largest Asia Pacific market for new aircraft deliveries, with nearly 1,000 Boeing and Airbus jets in its orderbook. Our commercial team remains steadfast in its outreach efforts across Asia Pacific, leveraging our platform’s resources and scale to support the region’s airlines in restoring their networks and growing their fleets.”
CDB also announced at the Airline Economics Growth Frontiers Asia Pacific 2022 conference that the company has entered into a facility agreement for a US$650 million secured portfolio financing. The seven-year facility is secured with a portfolio of 15 narrowbody and widebody aircraft, comprising the Airbus A320/A321neo, A330-900, as well as Boeing 737-8 and 787-9 Dreamliner aircraft. The facility is financed by a group of MLA banks, consisting of Crédit Agricole Corporate and Investment Bank, Bank of Communication Co., HSBC, and ING Bank.
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