(Shannon, Ireland, December 15, 2009) GE Capital Aviation Services Limited (GECAS) announced the sale of 15 aircraft assets with leases to CDB Leasing Limited, a unit of China Development Bank, for a total value of US $830 million to several airlines from around the world.
(Shannon, Ireland, December 15, 2009) GE Capital Aviation Services Limited (GECAS) announced the sale of 15 aircraft assets with leases to CDB Leasing Limited, a unit of China Development Bank, for a total value of US $830 million to several airlines from around the world.
CDB Leasing is controlled by China Development Bank, with a registered capital of 8 billion yuan, which is currently the strongest financial leasing company in China. GECAS is one of the world's largest aircraft leasing companies.
"The cooperation with GE Capital Aviation Services Limited is very smooth, and the success of this transaction has helped us make important progress in developing the international aircraft leasing market," said Wang Chong, President of CDB Leasing.
Norman Liu, President and CEO of GECAS, said: "GE Capital Aviation Services has been providing aircraft financing services to China's domestic airlines for the past 20 years. Today, we are very proud to be working with a leading domestic financial institution to complete a higher-end overall asset transaction."
GE Financial Aviation Services Limited (GECAS)
Headquartered in Ireland, GE Capital Aviation Services Limited (GECAS) specialises in finance and leasing related to the air transport industry. GECAS currently owns a total of 1,530 commercial aircraft worldwide, provides leasing and financing services to 245 airline customers in 75 countries, and manages and maintains more than 300 aircraft owned by other organizations throughout the year. GECAS has a wide range of aircraft in its fleet and a wide range of related financial services, including aircraft operating leasing, airline debt financing, spare aircraft engine leasing and aviation parts financing. GECAS is part of GE Capital and has 23 locations around the world.
CDB leasing
CDB Leasing (CLC) is a financial leasing company controlled by China Development Bank with a registered capital of RMB 8 billion. Aircraft leasing is the core business of CDB Leasing, which has delivered 45 aircraft to airline customers to date.
