CDB Aviation Leases Three A320neos to Frontier Airlines
Deliveries Encompass Addition of Frontier's 100th A320 Family Aircraft
The trio of A320neos on lease from CDB Aviation include Chinook the Gray Wolf, the 100th A320 member of Frontier's fleet. (Photo: Business Wire)
July 29, 2020 02:53 PM Eastern Daylight Time
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing"), announced the company commenced this week the deliveries of three Airbus A320neos to new customer, Denver-based low fare carrier Frontier Airlines ("Frontier") as part of a sale-and-leaseback transaction.
The LEAP-1A engine-powered aircraft, delivering from Airbus' A320 Family jetliner final assembly line in Mobile, Alabama, are bound for an immediate entry into passenger service on U.S. domestic routes.
"We are thrilled to have Frontier join our growing customer family," emphasized Luís da Silva, CDB Aviation Head of Commercial, Americas, adding that "we look forward to a sustainable, long-term relationship, which we hope to further grow in the future."
Both the lessor and airline teams took the opportunity to commemorate a milestone delivery as one of the aircraft, Chinook the Gray Wolf, became the 100th A320 member of Frontier's fleet, in addition to the other two aircraft named Cortez the Green Turtle and Parish & Daisy the Burrowing Owls.
"We are delighted to take delivery of these new aircraft and commemorate not only the continued growth of our company but also the addition of the 100th aircraft to our fleet," said James Dempsey, Chief Financial Officer for Frontier Airlines. "We greatly value our partnership with CDB Aviation and take pride in celebrating this special milestone with them."
"It's extremely exciting to see the trio of siblings enter service in support of Frontier's unwavering commitment of delivering low fares to flyers across the U.S.," applauded da Silva.
CDB Aviation Chief Marketing Officer Peter Goodman accentuated the ongoing "targeted efforts of our global team to conduct commercial campaigns in all key aviation markets" that provide airlines with access to the lessor's innovative financings to meet their immediate and longer-term requirements.
"CDB Aviation has been actively pursuing emerging opportunities, including in the sale and leaseback channel, with the goal of leveraging our robust platform and capabilities to support airline customers during these unprecedented times," concluded Goodman.
About Frontier Airlines
Frontier Airlines is committed to "Low Fares Done Right." Headquartered in Denver, Colorado, the company operates over 95 A320 family aircraft and has the largest A320neo fleet in the U.S., delivering the highest level of noise reduction and fuel-efficiency, compared to previous models. The use of these aircraft, Frontier's seating configuration, weight-saving tactics and baggage process have all contributed to the airline's average of 43 percent fuel savings compared to other U.S. airlines (fuel savings is based on Frontier Airlines' 2019 fuel consumption per seat-mile compared to the weighted average of major U.S. airlines), which makes Frontier the most fuel-efficient U.S. airlines. With over 150 new Airbus planes on order, Frontier will continue to grow to deliver on the mission of providing affordable travel across America. www.FlyFrontier.com
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing") a 35-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody's (A1), 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
Paul Thibeau
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