CDB Aviation Delivers Second Boeing 737-8 to T’Way

Aircraft Delivered from Lessor’s Orderbook to Aid Carrier’s Transition to New-Gen Fleet

SEATTLE--(BUSINESS WIRE)--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced the delivery of a second Boeing 737-8 to South Korea’s T’way Air (“T’way”).

The 737-8 aircraft is configured with 189 single-class economy seats and equipped with the CFM LEAP-1B27 engines. The carrier currently has two 737-8 aircraft on lease from CDB Aviation.

“We’re pleased to be further expanding our collaboration with T’way, one of the fastest growing carriers in South Korea, with this transaction for the MAX Family aircraft,” commented Jie Chen, CDB Aviation Chief Executive Officer. “This transaction was one of the rare MAX skyline placement campaigns in the region that effectively leveraged the strength of our leasing platform and access to new-gen aircraft to support T’way’s fleet renewal and regional network expansion plans.”

"We are delighted to receive this high-efficiency aircraft from our valued partner, CDB Aviation. This delivery is a meaningful milestone in our fleet renewal plan, enabling us to enhance operational efficiency, offer improved in-flight experiences, and pursue more sustainable operations,” stated Sang Yoon Lee, Chief Executive Officer and Representative Director at T'way.

“As we continue to grow our global footprint, building trusted relationships with airlines across all key markets is central to our efforts. The teams on both sides have worked together to build a strong partnership between our companies, executing on the potential deal opportunities that enable T’way to transition to the new-generation aircraft and to focus on the APAC regional routes,” concluded Chen.

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 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