Deliveries from Lessor’s Orderbook Add Up to Eight Aircraft Currently on Lease to Carrier
CALGARY, Alberta–(BUSINESS WIRE)–#CDBAviation–CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), announced today the delivery of three Boeing 737-8 aircraft to its existing customer, Calgary-based carrier WestJet.
These latest technology 737-8 aircraft will strengthen WestJet’s narrowbody fleet, delivering greater fuel efficiency and providing affordable and flexible air travel options for the airline’s guests, including satellite-supported WiFi.
“We’ve built a strong partnership with the WestJet team since the inaugural transaction between our companies in 2020,” commented Luís da Silva, CDB Aviation’s Head of Commercial, the Americas. “To date, we have financed and leased a total of 13 737-8 aircraft which support this strong and growing Canadian airline.”
Canada’s coast-to-coast leisure champion and western home carrier will deploy the 737-8 aircraft as part of its ongoing fleet expansion process in tandem with its affordable cost structure as a key accelerator of its growth strategy.
“CDB Aviation is a valued partner of WestJet,” said Jennifer Bue, WestJet’s Senior Vice President, Treasurer. “The relationship enables WestJet to continue our momentum driving our growth strategy.”
“CDB Aviation values our expanding relationship with WestJet and we are pleased to be able to support their fleet expansion in an environmentally friendly manner, as we deliver these three additional fuel-efficient 737-8 aircraft directly from our orderbook,” concluded da Silva.
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 WestJet
WestJet took to the skies in 1996 with just over 200 employees and three aircraft operating service to five destinations. Since then, WestJet has pioneered low-cost travel in Canada, cutting airfares in half, and increasing the flying population in Canada by more than 50 per cent. Following the 2025 integration of Sunwing, WestJet now has more than 14,000 WestJetters to support nearly 200 aircraft and connect guests to more than 100 destinations across North America, Central America, the Caribbean, Europe and Asia. As a major Canadian employer that includes WestJet Airlines, WestJet Vacations, Vacances WestJet Quebec and Sunwing Vacations, the WestJet Group is Canada’s leading low-cost airline and largest vacation provider, with a united purpose of providing affordable and accessible air and vacation travel to Canadians. www.westjet.com
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a 41-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 one of 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
Contacts
Media contact: Paul Thibeau
[email protected]; +1 612 594 9844
