CDB Aviation partners with EFW investing in A330P2F as Next Generation Freighter

November 24, 2020

24th November 2020. CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co. Limited (“CDB Leasing”), entered into a new partnership with Elbe Flugzeugwerke GmbH (“EFW”) to conduct the Passenger-to-Freighter (“P2F”) conversion of two Airbus A330-300 aircraft in 2021, which will be available for lease to airline customers from early 2022.

The A330-300 P2F conversion program marks CDB Aviation’s first entry into freighter conversion, advancing the lessor’s strategic efforts to deliver ever-more customized fleet solutions to customers, while tapping the long-term growth potential of the medium widebody freighter market. The A330 P2Fs are part of the existing fleet of 228 aircraft, in addition to the lessor’s further commitments for 150 in-demand, next-generation technology aircraft.

“We are seeing an increasing interest from our customers for medium-sized freighters, as they look to take advantage of record-high freighter utilization, rapidly growing e-commerce demand, and higher cargo yields,” elaborated CDB Aviation Chief Executive Officer Patrick Hannigan. “We look forward to working with EFW on converting our highly efficient A330-300 aircraft into the next generation of medium widebody freighters that our customers can use to meet the burgeoning international and regional air freight demand. With 12,000 Airbus cockpit aircraft in service, the A330-300 P2F will seamlessly slot into the fleets of A320 Family, A330, and A350 operators, and will bring a new paradigm of efficiency with 23% more cargo volume,” expanded Hannigan.

“We are very excited to have CDB Aviation on board for investing in A330P2F Airbus converted freighters,” said Dr. Andreas Sperl, Chief Executive Officer of EFW. “We look forward to a prosperous long-term relationship and to support the fleet growth in this promising market segment.”

© AIRBUS S.A.S. 2020 - computer rendering by FIXION - MMS - 2020

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co. Limited (“CDB Leasing”), a 35-year-old Chinese leasing company that is backed mainly by the China Development Bank. China Development Bank is the world’s largest development finance institution and under the direct jurisdiction of the State Council of China. 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 2016 to globalize and marketize its business listing on the Hong Kong Stock Exchange. www.cdbaviation.aero

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