CDB Aviation and Volaris agree to sale and leaseback of four new A320neo aircraft
MEXICO–(COMMERCIAL THREAD) – CDB Aviation, a 100% Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced the signing of a new agreement with Mexico’s number one airline, Controladora Vuela Compañía de Aviación, SAB de CV (“Volaris”), for the sale and leaseback of four new Airbus A320neo .
The planes, two of which are expected to be delivered to Volaris by October 2021, with the other two scheduled to arrive by May 2022, are on long-term leases, bringing the total number of CDB Aviation leased to the carrier to 6. .
Luís da Silva, Commercial Director of CDB Aviation, Americas, said: “We are very pleased to deliver tremendous value to our existing client, Volaris, by leveraging the financial strength of our balance sheet and the capacity of our platform. to evolve rapidly in today’s demanding market conditions. . ”
The neos will support the optimization of the carrier’s fleet plan as it aims to strengthen its low unit cost operating model to meet post-COVID-19 traffic requirements in line with the company’s sustainability strategy .
“Volaris will pursue an aggressive strategy of growth and solid operational performance. Therefore, the expansion of our fleet is one of the main pillars of our ultra-low-cost model and will help us to strengthen our local and international presence in all the markets we serve ”, said Holger Blankenstein, vice- executive chairman of Volaris.
The new fuel-efficient technology aircraft will be deployed primarily to strengthen Volaris’ leadership position in the Mexican domestic market, enabling the airline to seize opportunities as immunization programs gain momentum and demand. confidence in air transport is accelerating.
“The deepening of our relationship with Volaris further advances our strategy to meet the aircraft financing needs of Mexican airlines, as well as to deliver on the ambitious development roadmap for promising Latin American markets.” , added da Silva.
“Our current prerogative is first and foremost to provide carriers with attractive financing conditions and to provide the capacity required to respond to increased demand,” said Peter Goodman, Marketing Director of CDB Aviation. “Our industry-leading financing solutions can be structured and executed quickly, within weeks, effectively meeting the rapidly evolving needs of clients as they navigate the post-pandemic recovery.”
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”. “,” “Intend”, “plan”, “goal”, “believe”, “achieve” or any other terminology or words with similar meaning. These statements are based on the current beliefs and expectations of CDB Aviation management 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 the accuracy or completeness of such forward-looking statements. Except as required by applicable law, we assume no obligation to update and will not update any forward-looking statements, whether as a result of new information, future events or otherwise.
Volaris or the “Company” (NYSE: VLRS and BMV: VOLAR), is a very low cost carrier (ULCC), with point-to-point operations, serving Mexico, the United States and Central America. Volaris offers low base rates to develop its market, offering quality service and a wide choice to customers. Since the start of its operations in March 2006, Volaris has increased its routes from five to 180 and its fleet from four to 94 aircraft. Volaris offers more than 460 daily flight segments on routes that connect 43 cities in Mexico and 25 cities in the United States with one of the youngest fleets in the Americas. Volaris targets passengers visiting friends and relatives and cost-conscious business and leisure travelers in Mexico and certain destinations in the United States and Central America. Volaris has received the ESR Award for Corporate Social Responsibility for eleven consecutive years, it entered the MILA Pacific Alliance Dow Jones Sustainability Index in 2020 and the S & P / BMV Total Mexico ESG Index of the Mexican Stock Exchange in 2021. www.volaris.com
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), a 36-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 aircraft, 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