CDB Aviation Lease Finance DAC, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing, signed a memorandum of understanding with Boeing for 42 737 MAX 8s, 10 737 MAX 10s and eight 787-9 Dreamliners.

In doing so, CDB Aviation joins the ranks of the launch customers for the 737 MAX 10 aircraft. Included in this MOU, the company has converted six of its existing 737 MAX-8 orders to 737 MAX 10s.

The commitment, valued at $7.4 billion at list prices, comes at a pivotal time for CDB Aviation as the company seeks to propel itself into becoming a formidable global aviation leasing platform, with an aggressive growth strategy and an increasing market presence, serving a worldwide network of airline customers.

“Today’s announcement illustrates our steadfast commitment to aggressive, disciplined growth of our global footprint, fleet and market presence,” said CDB Aviation President and Chief Executive Officer Peter Chang. “This additional order of Boeing’s fastest-selling 737 MAXs and eight of its cutting-edge 787 Dreamliners to our growing fleet will play a key role in bolstering our global position and delivering the most advanced, in-demand aircraft to our expanding worldwide customer base. Today’s order places us in an improved position to better serve those customers with both narrowbody and widebody fleet requirements.”

“We are honored to bring our enduring partnership with CDB Aviation to a new level, with the new commitment for additional Boeing single-aisle and widebody airplanes to meet the needs of their customers,” said Ihssane Mounir, senior vice president, Global Sales and Marketing, Boeing Commercial Airplanes. “This is another demonstration of the popularity of our latest, fuel efficient 737 MAX and 787 airplane models.”

With a committed fleet of over 300 aircraft, CDB Aviation is on a fast track to becoming one of the world’s premier Chinese-owned aviation leasing companies. Chang commented, “The company continues to grow our world-class, international management team with experienced and well-respected industry leaders” and will leverage the significance of the China Development Bank and the resources it offers to “expand the company’s focus beyond China and benefit our airline customers globally.”