CDB Aviation completes delivery of 15 new Boeing aircraft to United

Transaction reinforces lessor’s commitment to support airlines as market recovery continues

CHICAGO, January 04, 2022– (BUSINESS WIRE) – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced the completion of deliveries of a fleet of fifteen new Boeing aircraft in the United States – based at United Airlines Holdings, Inc. (“United”; NASDAQ: UAL). The sale-leaseback transaction covered a fleet of two 787-9 Dreamliner and thirteen 737 MAX 8, which were delivered between 2020 and 2021.

“We would like to thank the members of the United and CDB Aviation teams who worked together to structure and rapidly execute this complex transaction during a particularly difficult time for the industry,” applauded Peter Goodman, Marketing Director. by CDB Aviation.

Highlighting the importance of establishing a key strategic relationship with the world’s fourth largest airline measured in terms of revenue while further expanding the lessor’s footprint in the Americas, Goodman underscored the transaction’s role in “Support United’s management efforts to streamline its fleet and improve their work towards resuming sustained and long-term growth.”

Both 787-9s are powered by General Electric GEnx engines and configured in a 257-seat configuration with the new Polaris and Premium Plus cabins. As air travel returns, these widebody jets are expected to offer the benefits of reduced fuel consumption and efficient economy to open up new routes and new markets.

The thirteen 737 MAX 8 planes, powered by CFM International’s LEAP-1B engines, have a total of 166 seats divided into 2 cabins. MAXs are operated on the carrier’s short and medium-haul missions, delivering reduced environmental impact and an improved passenger experience as United advances its long-term strategy to strengthen domestic operations.

“The outbreak of COVID-19 ushered in the most difficult time in the history of the aviation industry,” said Pam Hendry, United vice president and treasurer. “We are grateful for the partnership we have established with CDB Aviation and appreciate their willingness and ability to support United in a meaningful way during this global pandemic. “

“This mandate demonstrated the robust capabilities and scale of our evolved platform as well as our highly competitive position among global donors,” said Patrick Hannigan, President and CEO of CDB Aviation. “Our sales team remains focused on identifying ways to deliver large-scale and innovative solutions to leading airlines, such as United, as they work their way through the nascent recovery of the airline industry. and position their fleets for post-pandemic realities, with operating economics and sustainability in mind.

Forward-looking statements

This press release contains certain forward-looking statements, beliefs or opinions, in particular with regard to the business, financial condition, results of operations or plans of CDB Aviation. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial conditions or performance measures could differ materially from those contained in forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate solely to historical or current facts. Forward-looking statements sometimes use words such as “may”, “will”, “seek”, “continue”, “aim”, “anticipate”, “target”, “plan”, “expect”, “estimate”. “,” “Intention”, “plan”, “objective”, “believe”, “achieve” or any other terminology or words with similar meaning. These statements are based on the current beliefs and expectations of the management of CDB Aviation and are subject to significant risks and uncertainties. Actual results may differ materially from those expressed in forward-looking statements. Therefore, you should not rely on forward-looking statements as a prediction of actual results and we assume no responsibility for them. the accuracy or completeness of these forward-looking statements.Except as required by applicable law, we assume no obligation and will not update any forward-looking statements, whether as a result of new information, events f uturs or otherwise.

About United Airlines

United’s common goal is “Connect people. Unite the world ”. For more information, visit united.com, follow @United on Twitter and Instagram, or connect on Facebook. Common shares of United’s parent company, United Airlines Holdings, Inc., trade on the Nasdaq under the symbol “UAL”. www.united.com

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), a 37-year-old Chinese leasing company that is primarily backed by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A2), S&P Global (A) and Fitch (A +). The Development Bank of China is under the direct jurisdiction of the State Council of China and is the largest development finance institution in the world. It is also China’s largest bank for foreign investment and financial cooperation, long-term lending and bond issuance, with a Chinese sovereign credit rating.

CDB Leasing is the only leasing arm of the Development Bank of China and a leading leasing company in China engaged in the leasing of airplanes, infrastructure, ships, commercial vehicles and construction machinery and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and market its activities – by being listed on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606). www.CDBAviation.aero

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211220005728/en/

Contacts

Media contact: Paul Thibeau
[email protected]; +1 612 594 9844

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