CDB Aviation Lease Finance, a wholly owned Irish subsidiary of China Development Bank Financial Leasing, signed a lease agreement for three Boeing 737-800 aircraft with China’s first privately-owned, low-cost carrier Ruili Airlines.

“As Ruili Airlines continues to increase its operational scope, we are very pleased to provide three 737-800 aircraft to help foster the carrier’s growth and expansion of its network,” said CDB Aviation President and CEO Peter Chang. “With the completion of this first transaction, we welcome Ruili Airlines as our newest customer in China and we look forward to building a long-term relationship while deepening our cooperation at all levels.”

Founded in 2014, Ruili Airlines is the first local airline in Yunnan Province, China. The carrier is based at Kunming Changshui International Airport and operates a fleet of 14 Boeing 737 aircraft on scheduled passenger flights to destinations covering southern as well as northeastern China.