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February 10, 2020updated 11 Feb 2020 12:12pm

China-owned lessor CDB Aviation posts strong growth in 2019

By Alejandro Gonzalez

CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing, recently reported that 2019 marked a period of strong business activity and growth, in which the company executed transactions involving 89 aircraft.

“This past year’s continued growth in our operations is evidence of our unwavering commitment to execution and progressing our highly competitive position in the world’s key markets,” said Patrick Hannigan, chief executive of CBD Aviation.

The company’s strong activity in 2019 has been rooted in a three-year strategy to evolve its business model into a full-service, global platform underpinned by the performance of its global team, the company said.

During last year, the company wrote some key business, including lease transactions for 54 aircraft with 19 customers; agreements to sell 22 aircraft and to acquire 17 aircraft; the acquisition of 40 aircraft on operating lease (representing 19.7% growth by number of aircraft in the fleet at the start of 2019); financing transactions for US$2.49bn. The year also ended with 117 total employees, adding 34 new staff members in 2019; and 22 new airline customers.

As of 31 December 2019, CDB Aviation’s fleet consisted of 420 owned, managed, and committed aircraft, and its global customer network comprised 68 lessees across 37 jurisdictions.

“Our imperative is to remain steadfast in efforts to enhance efficiency and streamline operations to better serve the needs of business and customers,” asserted Hannigan, elaborating that the company’s new leadership is “razor-focused on successfully effecting a clear path to the next iteration of our business model with a clear focus on our customers. With our shareholder China Development Bank’s backing, we will continue building upon our success with a clear focus on the path forward for growth which is measured through our customer relationships.”

CDB Aviation is a 35-year-old Chinese leasing company that is backed mainly by the China Development Bank.

CDB Leasing is the only leasing arm of the China Development Bank and is engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It is listed on the Hong Kong Stock Exchange.

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