CDB Aviation signs leasing agreement

SpiceJet Ltd will get the first of the three 737 MAX 8 aircraft in December 2018 under a long-term lease signed with CDB Aviation.

The signed lease was announced on 6 Nov 2018 by CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co Limited.

“We are pleased to forge this new agreement with SpiceJet for an additional three 737 MAX aircraft, which will help the airline expand and standardize its fleet,” said CDB Aviation Chief Commercial Officer Patrick Hannigan.

“This efficient jet will support the carrier’s ongoing efforts to achieve a significant reduction in maintenance costs and enhance its domestic and international connectivity.”

The other two aircraft are due for delivery in September and November 2019.

In January 2018, CDB Aviation and SpiceJet entered their first deal for the MAX.

With the latest announcement, the carrier will have a total of eight MAX aircraft on long-term lease from CDB Aviation.

Hannigan concluded: “While India’s commercial aviation market continues to expand rapidly, the region’s airlines are accelerating their fleet modernization to meet the growing air travel demand.

“CDB Aviation is well positioned to provide the carriers with a full suite of operating lessor products, given our strong orderbook for new technology aircraft and focus on aggressive aircraft portfolio growth.” fiinews.com