Transaction Adds First-Ever A320neo to Irish Flag Carrier's Fleet, Advancing Sustainability Initiatives Focused on Modern, Fuel-Efficient Aircraft
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing"), has agreed to lease two Airbus A320neo aircraft to the Irish flag carrier, Aer Lingus, for delivery during this summer season. The transaction marks the introduction of the first A320neo variant in the airline's growing fleet.
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A pair of new A320neo aircraft leased to Aer Lingus by CDB Aviation will be delivered in the airline's full livery, branding, and cabin interior. They will join the Aer Lingus fleet for short-haul operations and will be operated predominantly on the Dublin-London Heathrow route. (Photo: Business Wire)
The aircraft, which are fitted with 186 seats in an all-economy layout, will be delivered to Aer Lingus in July 2022 and will become part of the backbone of its short-haul fleet, operating on routes between Ireland and European destinations.
"We are very pleased to be joining our new European customer, Aer Lingus, on their flight path toward a carbon neutral future through the financing of their inaugural A320neos," commented Peter Goodman, CDB Aviation's Chief Marketing Officer. "These latest generation aircraft will well complement Aer Lingus' strategic investments in their future fuel-efficient, modern fleet."
Aer Lingus is part of IAG, the first airline group worldwide to commit to achieving net zero carbon emissions by 2050. The group is targeting to achieve a 10% reduction in CO2 per passenger kilometer by 2025 and a 20% reduction in net emissions by 2030.
Speaking about the acquisition of two new aircraft for Aer Lingus' short-haul fleet, Lynne Embleton, CEO of Aer Lingus, said: "This is a great opportunity to bring new, state-of-the-art aircraft into our short-haul fleet. Renewing our fleet is one of the key ways for Aer Lingus to meet our sustainability targets, which is a priority for us over the coming years."
"The new generation Airbus A320neo aircraft is much more sustainable in terms of fuel burn and CO2 emissions, and this is not only important to Aer Lingus but also to our customers. Equally, the more environmentally friendly aircraft incur lower landing charges in some key airports, so these new A320neos will help us to reduce costs," added Embleton.
Patrick Hannigan, CDB Aviation's Chief Executive Officer, concluded: "Our teams worked hand in hand to expediently execute this transaction as an important element of the Irish flag carrier's recovery plan from the impact of the pandemic on air travel. The A320neo's operating advantages will also further strengthen Aer Lingus' leading position among European airlines in enhancing connectivity with a focus on improving efficiency and reducing aviation's environmental footprint."
This press release contains certain forward-looking statements, beliefs or opinions, including with respect to CDB Aviation's business, financial condition, results of operations or plans. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as "may", "will", "seek", "continue", "aim", "anticipate", "target", "projected", "expect", "estimate", "intend", "plan", "goal", "believe", "achieve" or other terminology or words of similar or analogous meaning. These statements are based on the current beliefs and expectations of CDB Aviation's management and are subject to significant risks and uncertainties. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.
About Aer Lingus
Aer Lingus is the Irish flag carrier, founded in 1936. In summer 2022, Aer Lingus will operate over 100 routes, flying to over 71 direct routes and to 62 destinations from Ireland to the UK and Europe. The airline operates 16 transatlantic routes from Dublin, Shannon and Manchester UK to North America and the Caribbean. Aer Lingus is a 4-Star airline, awarded by Skytrax, the international air transport rating organization. Aer Lingus is a member of International Airlines Group (IAG), one of the world's largest airline groups. www.aerlingus.com
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing"), a 36-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody's (A2), 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
Paul.THIBEAU@CDBAviation.aero; +1 612 594 9844