SAS Signs Lease with CDB Aviation for Fleet of Four Airbus Aircraft

CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing (CDB Leasing), finalized a new transaction with Scandinavian airline SAS for a fleet of four Airbus aircraft, including three A320neos and one A350-900. The deliveries of these aircraft are expected to occur between June 2020 and May 2022.

“We are very delighted to carry out yet another transaction with SAS for these Airbus aircraft,” Peter Goodman, chief marketing officer of CDB Aviation, said. “We look forward to further assisting in the reshaping of SAS’ fleet, particularly in support of efforts to advance environmental sustainability goals for their fleet operations.”

Goodman underscored that the lessor’s commercial team is pointedly expanding outreach in all aviation markets, energetically pursuing emerging opportunities for aircraft transactions, including in the sale and leaseback channel.

“Airlines can leverage the strength and robust scale of our platform and capabilities to access financing solutions that address their rapidly changing operating requirements during these unprecedented times,” Goodman said.

“SAS has worked together with CDB Aviation on several sale-and-leaseback transactions, and we are pleased that we have managed to secure the financing for these four aircraft together with Pat Hannigan and his team during this extraordinary market situation,” Torbjørn Wist, CFO of SAS, said. “Continuing to add the A320neo and A350 aircraft types into the SAS fleet is an important step in SAS’ ambitious sustainability agenda.”

“Our highly competitive position among lessors offers unmatched access to the range of innovative financings the airlines need for both immediate and longer-term requirements as they navigate their way through a challenging environment,” Hannigan, CEO of CDB Aviation, said. “With the backing of our shareholder, CDB Leasing, and the unique resources of China Development Bank, our team is expressly poised to go the proverbial ‘extra mile’ in delivering the industry’s best professional, full-service support in these hard times.”

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