CDB Aviation Agrees First-Ever Lease for Two A330-300 P2F Aircraft with Mexico’s MasAir

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing”), announced today the company has reached an agreement with Mexico-based MasAir Cargo Airline ("MasAir”) for the lease of two Airbus A330-300 Passenger-to-Freighter ("P2F”) aircraft, marking the lessor’s first-ever lease transaction with an airline operator for the aircraft type.

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CDB Aviation and its newest customer in the Americas, Mexico-based MasAir, have agreed to a long-term lease for two A330-300 P2F, marking the lessor’s first leasing transaction with an airline operator for the next generation A330 P2F freighter. (Photo: Business Wire)

The A330 P2Fs on long-term lease to its newest customer in the Americas represent the first two positions from CDB Aviation’s agreement with Germany-based EFW for the aircraft type’s conversion announced in November 2020. The aircraft are scheduled to deliver to MasAir during the first half of 2022.

"We are thrilled to welcome MasAir as the newest member of our growing customer base in Mexico and the Americas,” commented CDB Aviation Chief Marketing Officer Peter Goodman, pointing to the lessor’s distinctive provision of a customized fleet solution that will aid the dedicated freighter operator’s strategic move to expand the fleet with more efficient and capable medium-sized widebody freighters.

"With the increasing demand for express air cargo driven by robust e-commerce activity, our A330 P2Fs will deliver the desired combination of capacity and operating economics to support MasAir’s expansion plans, equipping their fleet to effectively cater to the needs of the expanding e-commerce infrastructure,” added Goodman.

Luis Sierra, MasAir CEO, emphasized in his message to stakeholders: "The A330-300P2Fs from CDB Aviation will provide bigger capacity and efficiency, marking the continued process of MasAir on becoming a global player in the air cargo arena. Adding these two A330s to the two A330-200s we agreed to lease last month, we continue the path of growing our fleet with more efficient and longer-range aircraft.”

"The medium widebody freighter segment, served nowadays by aging twin-jet aircraft, is poised for growth with the need for a new generation of medium widebody freighters,” asserted Patrick Hannigan, CDB Aviation Chief Executive Officer. "Our decision to enter the A330 P2F conversion market was motivated by the potential of this asset.”

"We are very glad to have MasAir on board becoming the first A330-300 P2F operator in the Americas in 2022,” said Dr. Andreas Sperl, Chief Executive Officer of EFW. "The A330 P2F is considered as very popular especially for the express cargo market, as it is a wide body program with great capacity offering more cargo volume and lower cost-per-ton than other available freighter aircraft types with a similar range.”

The lessor expects the A330-300 P2F to bring next generation technology and efficiency to the segment, offering more volumetric space than older freighters in this category. This aircraft can also seamlessly slot into the fleets of A320 Family, A330, and A350 operators, in line with what cargo operators and freight forwarders are seeking.

"We are delighted to see MasAir strengthen their position on the A330 freighter by committing to the A330-300 P2F. This new addition to their fleet will also allow MasAir to benefit from the unique Airbus Commonality with the proven technologies of the A330 Family, such as Fly-by-wire,” remarked Arturo Barreira, President of Airbus Latin America.

Hannigan concluded: "As a major lessor of passenger A330s, we are at the forefront of the industry leveraging the capabilities of this highly efficient aircraft to offer our customers the next generation of medium widebody freighters, which will enable them to meet cargo demand near-term and into the future.”

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 MasAir Cargo Airline

Aerotransportes Mas de Carga, SA de CV (dba MasAir Cargo Airline) is a Mexico City-based cargo airline, operating freighter aircraft since 1992. Since 2001, MasAir has been a B767-300Fs operator. An IATA member, MasAir holds IOSA, ISAGO, TCO-EASA, CCAR-129 and IATA-CEIV Pharma certifications. Since December 2018 MasAir is under a new ownership structure and management, with Discovery Americas -a leading Mexican Private Equity Fund- as majority shareholder. MasAir has a scheduled and charter network that spans along the Americas and is now expanding its new ACMI division with additional freighter aircraft. www.masair.com

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing”) a 36-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A1), 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

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