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CDB Initiates Airbus Delivery to TAP Air

2018-12-13 11:04 Thursday

CDB Aviation, a 100% owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited, recently announced its scheduled delivery of a fleet of six Airbus aircraft, including four A321neos and two A330neos to TAP Air Portugal. TAP, Portugal's leading airline and a member of Star Alliance, was fully privatized in 2015 and currently operates approximately 2,500 weekly flights on average, utilizing a fleet of 70 Airbus aircraft. It has a further 21 aircraft as part of its regional network through TAP Express.

leasing aircraft

The first aircraft delivered to the carrier in November was a new Airbus A321neo, part of a lease agreement for a total of four aircraft of the same type. The second A321neo is expected to be delivered by year-end, with the remaining two aircraft delivered in 2019.

In addition, in April 2018, CDB Aviation and TAP entered into a purchase and leaseback agreement for two Airbus A330-900neo aircraft, both of which  are expected to be delivered in the second quarter of 2019.

"This aircraft delivery supports our important partnership between CDB Aviation and one of the world's leading airlines, TAP," said CDB Aviation Chief Commercial Officer Patrick Hannigan. "The addition of these narrow-body and widebody aircraft will support the carrier's vision of accelerated capacity growth, enabling the airline to launch new routes. We look forward to building our ongoing close relationship with TAP, delivering supportive financing solutions to aid its growth in the years ahead."

Hannigan added: "TAP is among many airlines in CDB Aviation's rapidly expanding global customer network who benefit from our company's fast-evolving and industry-leading, full-service platform. Today, CDB Aviation boasts an in-demand portfolio and a strong orderbook for the latest generation aircraft, capable of meeting diverse customer needs and providing attractive near-term delivery positions."

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