CDB Aviation Signs Lease Agreement for One A320neo Aircraft with Air Seychelles

CDB Aviation Lease Finance DAC (“CDB Aviation”), a wholly owned Irish
subsidiary of China Development Bank Financial Leasing Co., Limited
(“CDB Leasing”), announced the signing of a lease agreement for one new
Airbus A320neo aircraft with the national airline of the Republic of
Seychelles, Air Seychelles.

“We are delighted to welcome our newest customer in Africa, Air
Seychelles, and to support the carrier’s plan to renew its fleet and
deliver increased efficiency to its regional network,” said CDB Aviation
Chief Commercial Officer Patrick Hannigan. “We congratulate Air
Seychelles on their investment in one of our A320neos, and we look
forward to building a strong partnership that will advance their
long-term growth strategy.”

Air Seychelles Chief Executive Officer Remco Althuis commented: “We are
very pleased to announce that the lease agreement with CDB Aviation has
been completed. This is a significant milestone, bringing us closer to
the introduction of the A320neo.”

Althuis explained that the new aircraft, which is scheduled for delivery
in the second half of 2019, will position Air Seychelles as the “airline
of choice within the Indian Ocean,” servicing the high demand routes
including Johannesburg and Mumbai.

“The new order will not only enable Air Seychelles to gradually replace
its existing jet fleet with modern new aircraft, but it will also enable
us to further strengthen the business by operating in a more efficient
manner. We thank the CDB Aviation team for their cooperation and support
throughout the process,” added Althuis.

Hannigan concluded: “CDB Aviation is well positioned to support airlines
in Africa’s fast-tracking aviation market to meet the region’s
accelerating growth. Our robust orderbook for the most advanced and
efficient aircraft, as well as our increasing global platform, offer
African carriers avenues to further strengthen their businesses and
ensure they meet demand and grow sustainably.”

About Air Seychelles

Air Seychelles was established in 1978 and began long-haul service in
1983. The airline currently offers international flights to Abu Dhabi,
Johannesburg, Mauritius and Mumbai. Air Seychelles also offers more than
350 domestic scheduled flights a week throughout the archipelago,
including domestic charter services. As the national airline of the
Republic of Seychelles, Air Seychelles is a pillar of tourism, the
island nation’s strongest and growing economic sector. The airline
maintains a strategic partnership with Etihad Airways, the national
airline of the United Arab Emirates and 40 per cent stakeholder. www.airseychelles.com

About CDB Aviation

CDB Aviation Lease Finance DAC (“CDB Aviation”) is a wholly owned Irish
subsidiary of China Development Bank Financial Leasing Co., Limited
(“CDB Leasing”) a 34-year-old Chinese leasing company that is backed
mainly by the China Development Bank. 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/20180711005510/en/

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