Bulletin
Investor Alert

press release

Dec. 6, 2021, 11:05 a.m. EST

CDB Aviation Delivers A320 Aircraft to Allegiant

Addition of New North American Customer Demonstrates Lessor’s Continued Focus on Growing Global Presence in Key Markets

LAS VEGAS, (BUSINESS WIRE) -- CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the delivery of an Airbus A320-200 aircraft to a new customer in the Americas region, Las Vegas-based ultra-low-cost airline Allegiant.

“With its efficient air service model focused on providing reliable and affordably accessible air travel, Allegiant has been strengthening its unique position of growth as the industry emerges from the pandemic,” noted Luís da Silva, CDB Aviation’s Head of Commercial, Americas. “This transaction is a valuable component of the carrier’s fleet plan for 2022 and beyond, and we look forward to building a long-term, strategic relationship with the Allegiant team.”

The aircraft will enter service, configured with 186 economy seats, to support the carrier’s business model: point-to-point commercial air service that links small city airports to leisure destinations across the United States.

“We appreciate CDB Aviation’s creative approach, providing a transaction that fits nicely with our fleet strategy,” said Robert Neal, Allegiant’s Treasurer and Senior Vice President of Corporate Finance. “We’re pleased to be growing our fleet with high-quality aircraft well suited for our ULCC operation. We appreciate CDB Aviation’s confidence in Allegiant.”

Peter Goodman, CDB Aviation Chief Marketing Officer, commented: “We’re delighted to welcome a new customer in North America, which demonstrates our continued efforts to build up the platform’s position in key markets across the globe. As airlines adapt fleets to meet the recovery in air travel, CDB Aviation is well positioned to provide fast-growing airlines, such as Allegiant, with access to an established fleet of varied aircraft types and full-service support to monetize post-pandemic growth opportunities.”

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 Allegiant – Together We Fly™

Las Vegas-based Allegiant /zigman2/quotes/208507686/composite ALGT +3.60% is an integrated travel company with an airline at its heart, focused on connecting customers with the people, places and experiences that matter most. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant's all-Airbus fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. www.Allegiant.com

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”) a 36-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 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005613/en/

SOURCE: CDB Aviation

Paul Thibeau
Paul.THIBEAU@CDBAviation.aero
+1 612 594 9844

COMTEX_398409786/2456/2021-12-06T11:05:18

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

Copyright Business Wire 2021

/zigman2/quotes/208507686/composite
US : U.S.: Nasdaq
$ 151.47
+5.27 +3.60%
Volume: 274,914
May 27, 2022 4:00p
P/E Ratio
19.37
Dividend Yield
0.00%
Market Cap
$2.74 billion
Rev. per Employee
$432,682
loading...

Comtex

Partner Center

Link to MarketWatch's Slice.