Industry SAS to lease four Airbus aircraft from CDB Aviation

CDB Aviation and Scandinavian Airline System (SAS) have signed a deal to lease four new Airbus aircraft to the carrier. The transaction includes three Airbus A320neos and one A350-900 XWB. Deliveries of the aircraft are expected to occur between June this year and May 2022.

The continuation of adding new aircraft to its fleet, underlines the airline´s ambition to grow. It represents an important step in SAS´ sustainability agenda, as both aircraft types are equipped with state-of-the-art engines and aerodynamical advantages, which make the aircraft greener and more efficient.

CDB Aviation Chief Marketing Officer Peter Goodman commented: “We are very delighted to carry out yet another transaction with SAS for these Airbus aircraft [...] we look forward to further assisting in the reshaping of SAS’ fleet, particularly in support of efforts to advance environmental sustainability goals for their fleet operations.”

Torbjørn Wist, SAS Chief Financial Officer, added: “SAS has worked together with CDB Aviation on several sale-and-leaseback transactions, and we are pleased that we have managed to secure the financing for these four aircraft together with Pat Hannigan and his team during this extraordinary market situation.”

“Our highly competitive position among lessors offers unmatched access to the range of innovative financings the airlines need for both immediate and longer-term requirements as they navigate their way through a challenging environment,” concluded CDB Aviation Chief Executive Officer Patrick Hannigan.

SAS is connecting three hubs in Scandinavia to destinations in Europe. Main airports are at Copenhagen, Oslo and Stockholm. “Spurred by a Scandinavian heritage and sustainable values, SAS aims to reduce total carbon emissions by 25% and operate with biofuel equivalent to equal the total consumption of fuel used to operate all domestic SAS flights, by 2030,” stated CDB.

CDB Aviation is a wholly owned Irish subsidiary of the China Development Bank Financial Leasing Limited. The leasing company was founded 35 years ago and has become the largest Chinese bank for foreign investments.