CDB Aviation Delivers First of Six Aircraft to TAP

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing”), today announced that the company began delivery of a fleet of six Airbus aircraft to Portugal’s leading airline, TAP Air Portugal ("TAP”).

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CDB Aviation has begun delivery of a fleet of six Airbus aircraft, including four A321neos and two A330neos, to TAP Air Portugal. The companies’ teams celebrated delivery of the first A321neo during a ceremony held at the Airbus Delivery Center in Hamburg; representing CDB Aviation (L-R): Jamie White, Contracts Manager; Rebekah Dalton, Vice President Procurement; Michael Culhane, Senior Vice President New Aircraft; and Daniel Cunningham, Vice President Commercial, and representing TAP (L-R): Joao Delgado, Fleet Planning and Contracts; André Seabra Simoes, Fleet Planning and Contracts; Joana Palmeiro, Fleet Planning and Contracts; and João Espírito Santo, Legal Department. (Photo: Business Wire)

The first aircraft delivered to the carrier in November is a new Airbus A321neo, which is part of a lease agreement for a total of four aircraft of the type. The second A321neo is expected to deliver by year-end, with the remaining two aircraft slated for arrival in 2019.

In addition, in April 2018, CDB Aviation and TAP entered into a purchase and leaseback agreement for two Airbus A330-900neo aircraft. The two widebodies are expected to deliver in the second quarter of 2019.

"This aircraft delivery supports our important partnership between CDB Aviation and one of the world’s leading airlines, TAP,” said CDB Aviation Chief Commercial Officer Patrick Hannigan. "The addition of these narrowbody and widebody aircraft will support the carrier’s vision of accelerated capacity growth, enabling the airline to launch new routes. We look forward to building our ongoing close relationship with TAP, delivering supportive financing solutions to aid its growth in the years ahead.”

Hannigan added: "TAP is among many airlines in CDB Aviation’s rapidly expanding global customer network who benefit from our company’s fast-evolving and industry-leading, full-service platform. Today, CDB Aviation boasts an in-demand portfolio and a strong orderbook for the latest generation aircraft, capable of meeting diverse customer needs and providing attractive near-term delivery positions.”

About TAP Air Portugal

TAP is Portugal’s leading airline, and member of Star Alliance, the global airline alliance to offer customers worldwide reach, since 2005. In operation since 1945, TAP celebrated 70 years on March 14, 2015, and has completed its privatization process in 2015, with the Atlantic Gateway Group now as new private shareholders of its share capital. TAP hub in Lisbon is a key European gateway at the crossroads of Africa, North, Central and South America, where TAP stands out as the international leading carrier in operation to Brazil. The company’s network currently comprises 83 destinations in 35 countries worldwide. TAP currently operates about 2,500 weekly flights in average on a modern fleet of 70 Airbus aircraft and 21 aircraft in TAP Express livery, operating in the company’s regional network, adding up to a 91 aircraft fleet in the whole. Within the vast restructure program currently going across the company as the outcome of its privatization process, TAP has announced its Network restructure, its medium and long haul fleet renewal program as of 2017 and the retrofit of the fleet currently in operation as well as the launch of the new branded product TAP Express, which replaced PGA and operates a new fleet of 21 ATR 72 and Embraer 190.

In the pursuit of its customer focused policy, TAP continuously strives to deliver safe, reliable and upgraded products & services, tailored to meet customers’ expectations. Retaining the Portuguese character of the Company’s brand and quality service as the basic concept has been the main driver of TAP strategy in most recent years. Recognized and awarded as the Europe’s Leading Airline to Africa as well as Europe’s Leading Airline to South America by the World Travel Awards in 2017, 2016, 2015 and 2014, the company was also awarded as the WTA World’s Leading Airline to Africa in 2011, 2012 and 2018 and the WTA World’s Leading Airline to South America in 2009, 2010, 2011, 2012 and 2018, while the company’s In-flight magazine UP also received the WTA award as Europe’s Leading In-flight Magazine in 2015, 2016 and 2017 and World’s Leading In-flight Magazine in 2018. Voted Best Airline in Europe in 2011, 2012, 2013 and again in 2015 by the Global Traveler, USA, the company was also honored by UNESCO and by the International Union of Geological Sciences with the IYPE "Planet Earth Award 2010”, in the category of "Most Innovative Sustainable Product”. TAP was also voted Best Airline by Condé Nast Traveller Magazine in 2010 and Best Portuguese Tourism Company by the specialized magazine Marketeer, in 2011. www.tapairportugal.com

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited ("CDB Leasing”) a 34-year-old Chinese leasing company that is backed mainly by the China Development Bank. 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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