CDBAviation 737 MAX 8
Amidst the strike challenges and the resultant furloughs, Boeing received some good news today. China Development Bank Financial Leasing Co. ordered 50 737 MAXs.
CDB Leasing noted: “China Development Bank Financial Leasing Co., Ltd. has announced a significant acquisition of fifty 737-8 aircraft from The Boeing Company, aiming to upgrade its fleet with more advanced and fuel-efficient models. The transaction, which is set to take place between 2028 and 2031, falls within the company’s usual scope of business and meets the criteria for a Qualified Aircraft Leasing Activity, allowing exemption from certain regulatory procedures. This strategic move is expected to optimize the company’s asset structure and enhance its market competitiveness without the need for shareholder approval.”
This deal follows one announced on September 12th: “China Development Bank Financial Leasing Co., Ltd. has announced a significant move in its fleet optimization strategy by signing an agreement to purchase 80 A320 NEO family aircraft from Airbus S.A.S. The transaction, which is expected to be completed between 2030 and 2032, enhances the company’s commitment to next-generation technology and fuel efficiency. This strategic acquisition aligns with the company’s growth objectives and is in the interest of its shareholders.”
The MAX delivery dates are between 2028-2031 and 2030-2032 for the A320neos.
Interestingly, the Airbus deal language around refers to the A320neo family. We would bet the deliveries will not be the A320 but the A321. The Boeing deal specifies the actual model.
The last big Airbus order from CBD Leasing was in 2017. The lessor has been doing sales and leasebacks on MAXs for some time.
The delivery timing is intriguing. By the early 2030s, the duopoly will have defined and likely offering its new models. The delivery schedules mentioned mean these aircraft could be near the tail end of both production runs. And if that is the case, does CBD have the right to update its orders to benefit? Being near the end allows a customer to switch up. You might recall how many A320ceo customers switched up the A320neo and were undoubtedly thrilled to do so.
