Delivery Advances Carrier's Fleet Renewal Strategy
CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing"), announced today the delivery of the first of two new Airbus A321LR aircraft to Icelandair (ICE: ICEAIR).
As previously announced, Icelandair and CDB Aviation signed long-term lease agreements for the two A321LR aircraft in January 2024. The first aircraft was delivered in March 2026, while the second unit is expected to be received by the airline later in 2026.
"We're excited to support Icelandair's fleet renewal with the delivery of these next generation aircraft and look forward to deepening our partnership with the airline," commented Jie Chen, Chief Executive Officer of CDB Aviation. "The A321LR offers the range, efficiency, and flexibility needed to advance Icelandair's ongoing fleet transformation and enhance its network offering for customers on both sides of the Atlantic."
"We are pleased to welcome another A321LR to our fleet and to continue strengthening our trusted partnership with CDB Aviation," said Bogi Nils Bogason, Chief Executive Officer of Icelandair. "This delivery represents another important step in our journey towards operating a more modern, efficient fleet that comprises next generation aircraft. The A321LR plays a key role in our fleet renewal, supporting our network strategy and offering the range and improved fuel efficiency that enables us to deliver a strong and competitive product to our customers."
Forward-Looking Statements
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 meaning. These statements are based on the current beliefs and expectations of CDB Aviation's management and are subject to significant risks and uncertainties. Actual results and outcomes may differ materially from those expressed in the forward-looking statements. 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 Icelandair
With an extensive route network, Icelandair uses the unique geographical location of Iceland as a hub midway between Europe and North America offering direct flights to around 60 destinations. Additional to the international route network, Icelandair operates a domestic network in Iceland, an airfreight and logistics business as well as aircraft leasing and consulting services. Since its foundation in 1937, Icelandair has steadily expanded its route network and, in 2025, transported 5.1 million passengers and employed around 3,600 full-time employees. Icelandair is a publicly traded company, listed on Nasdaq Iceland. www.icelandair.com
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. ("CDB Leasing") a 41-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 one of 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
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Contacts:
Media contact: Paul Thibeau
Paul.THIBEAU@CDBAviation.aero; +1 612 594 9844
