CDB Aviation detailed the lessor’s robust commercial activity and cost management and streamlining initiatives undertaken in 2024. The lessor executed a total of 70 aircraft transactions in the prior year, underscoring the continued momentum in evolving its growing international platform. Key 2024 highlights include:
- Executed 36 transactions for 70 new and used aircraft, covering leases and extensions, sale and leaseback deals, aircraft acquisitions and sales;
- Placed new OEM orders for 130 narrowbody aircraft;
- Added 9 new airline customers;
- Raised $8.28billion in financing transactions.
“We ended this past year with strong momentum, buttressed with robust commercial activity reinforcing our strong position in the market and significant milestones achieved in building operational efficiency and managing costs,” said CDB Aviation Chief Executive Officer Jie Chen. “These efforts are the cornerstone of our path to sustainable profitability and being a global leasing platform built on strong customer-centric relationships and shareholder support.”
The lessor has been prioritising the mindset of putting the customer first, which resulted in the company’s reaching the highest number of customers in its history. CDB Aviation ended the year with a fleet of 521 owned and committed assets, with 307 aircraft under operating lease and 4 under finance lease to 71 airlines in 38 countries and regions. In addition, we placed 100% of new aircraft scheduled to be delivered in 2025 and have placed 90% of new aircraft to be delivered in 2026.
In 2024, CDB Aviation successfully placed orders with major OEMs for 130 narrowbody aircraft, which placed the lessor in the top echelon with one of the most significant orderbooks among lessors. “These orders not only strengthened our position in the marketplace, but also demonstrated the trust placed in the platform by our shareholder to deliver results,” added Chen.
In addition to the above committed aircraft, CDB Aviation’s shareholder has 70 non-binding entitlements with The Commercial Aircraft Corporation of China, Ltd. (“COMAC”), consisting of 20 C909 aircraft and 50 C919 aircraft.
CDB Aviation believes that the entry of other airframe OEMs has the potential to benefit the aviation industry, providing not only alternative sources of aircraft, but also driving the principal aircraft manufacturers to improve their product offerings. As a global Chinese lessor, CDB Aviation recognizes that having additional airframe OEMs will stimulate innovation, technological advancements and competition. In particular, the C919 development offers COMAC a unique opportunity to become a potential global player. With its promising new aircraft program, COMAC must build a diversified global customer base, a strong after sale support program as well as developing reliable supply-chain partnerships.
This past year, CDB Aviation completed two sustainability linked financing transactions for a total amount of $1.2 billion, bringing the total of sustainability linked financing to $1.8 billion. CDB Aviation has won numerous awards for these transactions, including the 2024 Airline Economics ‘Sustainability Aviation Debt Deal of the Year’ and ‘Sustainability Aircraft Lessor of the Year’ awards. By enhancing transparency and collaboration, CDB Aviation drove greater efficiency and productivity across all levels of the company, resulting in the quicker and more effective decision-making processes demonstrated by the increased number of deals signed throughout 2024.
“As we chart the path ahead, putting the customer first will remain our top priority underpinned by disciplined operational efficiency. I would like to thank the CDB Aviation team for their engagement and embracing this transformational shift in how we do business. I am confident that we will continue our positive momentum with the shareholder support and the right focus,” said Chen.
BOC Aviation reports 47 orderbook additions in 2024
BOC Aviation CEO Steven Townend said in a quarterly recap that “We continued to focus on the long term sustainable growth of our business in 2024 and added 47 new aircraft commitments, which will provide a valuable pipeline of future revenue growth. We took delivery of 38 aircraft against a challenging supply chain backdrop, lifting our owned portfolio to a record 435 aircraft even as we sold 29 owned aircraft as part of our active portfolio management strategy. Our collection rate exceeded 100% for the third year running and aircraft utilisation remained above 99%. Notably, all of our aircraft were on lease at year-end.”
- A total portfolio of 709 aircraft and engines owned, managed and on order
- An average aircraft age of 5.0 years and an average remaining lease term of 7.9 years for the 435 owned aircraft fleet
- Managed fleet comprised 32 aircraft
- Order book of 232 aircraft
- Customer base of 92 airlines in 48 countries and regions in the owned and managed portfolios
- Owned aircraft utilisation remained above 99% for the year ended 2024
- Executed a total of 77 transactions in the fourth quarter of 2024 and a total of 260 in 2024, including:
- Commitments in the fourth quarter to purchase 14 aircraft and a total of 47 in 2024
- Commitments to purchase four engines in the fourth quarter to close the year with 10 owned engines
- Delivery of 13 aircraft in the fourth quarter and a total of 38 in 2024
- Sale of eight owned aircraft in the fourth quarter, which brought the total number of owned aircraft sold during the year to 29
- 28 lease commitments in the fourth quarter and a total of 118 for 2024
- Raised total funding for the year of over US$5 billion
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