CDB Aviation Reaffirms Commitment to China
China Aviation Daily | Jun. 13, 2019
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CDB Aviation, the dedicated aircraft leasing platform of China Development Bank, is joining the discussion at Airfinance Journal China 2019 in Shanghai where over 700 senior executives from airlines, leasing companies, financial institutions and investment houses gathered to examine the most pressing issues and opportunities of the aviation finance landscape. Peter Chang, Chief Executive Officer of CDB Aviation, will deliver a keynote speech to look at the history of the Commercial Aviation Leasing industry in China and an outlook for its future within the global market.
Since the appointment of Peter Chang as Chief Executive Officer in January 2017, CDB Aviation has been rapidly accelerating business to support the continued growth of its industry-leading leasing platform. Today, CDB Aviation is a top-tier global lessor, with US$ 8.8 billion in aircraft leasing assets as of end of 2018, providing innovative and comprehensive aircraft fleet financing solutions to airlines in all key markets of the world. Strengthening its position as a global, best-in-class and full-service lessor, CDB Aviation has received strong investment grade issuer credit ratings by three major global credit rating agencies. The company was assigned the 'A1' local currency and foreign currency issuer ratings with outlook stable by Moody's Investors Service, the 'A' long-term issuer credit rating with outlook stable by S&P Global Ratings, and the long-term Issuer Default Rating of 'A+' with outlook stable by Fitch Ratings.
China remains at the heart of CDB Aviation's growth strategy - the company is looking to bring its newly established global platform back to China, reinforcing its presence in the market in which it first began, and meeting the growing demands of Chinese airlines and customers, especially with China making up a significant share of the global fleet and the rising number of aircraft deliveries directed to the market.
"China has always been a pivotal market for us. We look forward to bringing our well-established global leasing services and platform to China to reinvigorate our presence in the market and help drive the growth of its quickly accelerating aviation sector," said CDB Aviation Chief Executive Officer Peter Chang.
As air passenger traffic volume in China has grown extensively and continues to grow, the country is expected to lead the world's aviation market by 2022. According to the latest civil aviation industry development statistical bulletin released by the Civil Aviation Administration of China (CAAC), China has seen a constant fast growth in the civil aviation industry with the commercial transport fleet reaching 3,639 by the end of 2018, 343 more than that at the end of 2017.
To support its growth strategy for China, CDB Aviation has been strengthening its commitment to Asia Pacific with the announcement of new executive appointments in the region as well as the roll-out of its world-class platform in China. In May of this year, the company welcomed a new Head of Commercial, Asia Pacific, Sign Kadouh and Head of Commercial, Greater China & North Asia, Nick Seah, who joined the company's commercial team as it continues to build up its presence in the region, particularly in China.
This announcement comes as CDB Aviation marks a year of milestone growth in 2018, executing transactions involving 107 aircraft and signing financial transactions worth US$c3.2 billion. In addition to growing its high-caliber team around the world, the company built new, long-term relationships with airlines across key markets, and recorded a 20% growth in the number of aircraft in its fleet compared to the start of the year.
Chang added: "We have built a top-tier, global platform that is financially strong, focused on long-term thinking, and highly competitive. Together with our shareholder China Development Bank, we are proud to be shaping the future of aviation finance, earning our customers' and industry's respect. We will continue to grow exponentially and expand upon last year's success."
Looking ahead, the company will continue to broaden its service network and operations in the region and around the world, growing in both scale and strength as the global commercial aviation leasing market further expands to accommodate the rising demand from the global aviation industry.
Contributed by CDB Aviation