BUCHAREST, Romania--(BUSINESS WIRE)--CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the signing of lease agreements for two Boeing 737 MAX 8 aircraft with a new customer, Romanian flag air carrier TAROM.
The two MAX aircraft, leased from CDB Aviation’s direct orderbook with Boeing, will support TAROM’s fleet modernization process, which is aimed to result in a standardized fleet and allow for a significant reduction in costs. The aircraft will be configured with 189 seats and scheduled to be delivered to the airline between December 2025 and January 2026.
“We look forward to forging a strong relationship with our newest European customer and one of the region’s oldest airlines, TAROM. Since its inception seven decades ago, TAROM is currently the longest operating airline of Romania, having played a central role in advancing the country’s aviation industry and its regional connectivity. With these MAX aircraft, TAROM will be able to continue to enhance its market position, while building one of the youngest fleets in the region,” commented Jie Chen, CDB Aviation’s Chief Executive Officer.
“We are thrilled to partner with CDB Aviation in our ongoing plans to modernize TAROM’s fleet, and the role of these two new Boeing 737 MAX 8 aircraft is to help us enhance operational efficiency and provide our passengers with a superior flying experience. We value CDB Aviation’s expertise and support for this investment, an important part of our company's development plan, in which the fleet update is a key element in bringing about a better commercial performance and growth outlook, and we are looking forward to introducing them in our regular flight planning,” commented Costin Iordache, TAROM’s Chief Executive Officer.
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 TAROM
TAROM Romanian Air Transport was established in 1954 and operates under the authority of the Ministry of Transport, being a member of the SkyTeam Alliance since June 25, 2010. The Romanian flag carrier owns a fleet of 18 aircraft and has in its portfolio a number of 70 destinations operated with its own aircrafts or served by its code share partners. Since 1993, TAROM has been a member company of the International Air Transport Association (IATA). More details about the products and services offered by TAROM can be provided by accessing the company’s website at http://www.tarom.ro/.
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a 39-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 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
