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CDB Aviation Delivers First of Three A330 Aircraft to New Customer Onur Air

November 27, 2019 GMT

DUBLIN--(BUSINESS WIRE)--Nov 27, 2019--

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the company has delivered the first of three Airbus A330-343 aircraft to its new airline customer in Turkey, Onur Air. The remaining two aircraft are expected to deliver in the second quarter of 2020.

“We are very pleased to have Onur Air join our growing European customer base,” said Peter Goodman, CDB Aviation Head of Commercial Europe, Middle East, and Africa. “These A330s will well complement the growth objectives of this pioneer in Turkey’s aviation sector, enabling them to further execute its mission to continuously break new grounds.”

Committed to increasing the standards of Turkish air travel by setting its targets always higher not only for itself, but for the benefit of the overall industry, Onur Air will utilize the additional widebody aircraft to boost its all-Airbus fleet, while supporting wet-lease, scheduled and charter operations, both domestically and internationally to destinations including Europe, Russia, and the Middle East.

”We are pleased to receive the first of three A330-300s from CDB Aviation, which will be used to supplement our wet-lease operations in Saudi Arabia,” said Tufan Ozcan, Onur Air VP Asset Management. “We are also glad to work with CDB Aviation, a pioneer in the Chinese leasing industry, which will be the first Chinese lessor Onur Air will work with, and we hope that this will be the beginning of a long relationship.”

Patrick Hannigan, CDB Aviation President and Chief Commercial Officer, commented: “CDB Aviation’s innovative financing solutions and access to a wide range of existing and new technology aircraft are the cornerstones of our offerings, anchored in our team’s ability to tap the strength of a global platform to swiftly provide airlines the ideal fleet options they seek.”

About Onur Air

Onur Air is a Turkish carrier based at Istanbul Atatürk Airport. Onur Air was founded on April 14, 1992 and this year celebrates its 27th anniversary as the pioneer in private airline industry in Turkey. Onur Air, the first private airline to start domestic flights after the opening of domestic air transport in Turkey at the private sector in 2003, continued to develop with the effect of consumer demand for low cost air transport and the opening of scheduled / non-scheduled flights. Onur Air currently employs 1668 personnel and operates 28 aircraft with a fleet of Airbus family. The company operates to domestic and international destinations scheduled and non-scheduled in 25 countries. Onur Air has carried more than 100 million passengers safely since 1992. www.onurair.com

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”) a 35-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A1), 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/20191127005395/en/

CONTACT: Media contact:

Paul Thibeau

Paul.THIBEAU@CDBAviation.aero

+1 612 594 9844

KEYWORD: IRELAND TURKEY UNITED STATES HONG KONG NORTH AMERICA ASIA PACIFIC EUROPE FLORIDA NEW YORK

INDUSTRY KEYWORD: AIR TRANSPORT AEROSPACE MANUFACTURING TRANSPORTATION TRAVEL

SOURCE: CDB Aviation

Copyright Business Wire 2019.

PUB: 11/27/2019 08:41 AM/DISC: 11/27/2019 08:41 AM

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