Leasing platform of CDB makes China pivotal market
CDB Aviation, the aircraft leasing platform of the China Development Bank, will put China at the center of its development plans as the nation makes up a rising share of the global fleet.
China remains at the heart of CDB Aviation’s growth strategy and the company is looking to bring its newly established global platform back to China, said Peter Chang, chief executive officer of the CDB Aviation.
The company aims to meet the growing demands of Chinese airlines and customers, especially with the rising number of aircraft deliveries directed to the market, Chang said.
He made the remarks on Thursday at Airfinance Journal China 2019 in Shanghai where over 700 senior executives from airlines, leasing companies, financial institutions and investment houses shared knowledge on the most pressing issues and opportunities of the aviation finance landscape.
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, the leasing company has appointed new executive in the Asia Pacific region, which will account for half of its business in the next two decades, as well as rolled out its world-class platform in China, Chang said.
The leasing company also aims to make contributions and play a key role in China's aircraft manufacturing sector. "We're always looking forward that the Commercial Aircraft Corporation of China (COMAC) will become the world's third major manufacturer after Boeing and Airbus," he said.
As a top-tier global lessor, the firm has a portfolio of 427 aircraft with US$8.8 billion in aircraft leasing assets by the end of 2018. Last year, it executed transactions involving 107 aircraft and signing financial transactions worth US$3.2 billion.