China’s CDB Leasing buys up to 30 CSeries aircraft
Oct. 18, 2013, Beijing, China - Bombardier Aerospace announced today that CDB Leasing Co., Ltd. (CLC), one of China's top leasing companies, is the previously announced undisclosed customer that signed a conditional purchase agreement for five CS100 and 10 CS300 jetliners.
The purchase agreement also includes options on an additional five CS100 and 10 CS300 aircraft, for a total of up to 30 CSeries aircraft. This agreement was initially announced as a conditional order from an undisclosed customer for five CS100 and 10 CS300 jetliners on July 8, 2012.
The announcement was made today in Beijing, in the presence of His Excellency Xi Jinping, President, People's Republic of China; His Excellency the Right Honourable David Johnston, Governor General of Canada; the Honourable John Baird, Canada's Minister of Foreign Affairs; the Honourable Joe Oliver, Canada's Minister of Natural Resources; Wang Chong, Chairman, CLC; Mike Arcamone, President, Bombardier Commercial Aircraft; and Andy Solem, Vice President, Sales, China and North Asia, Bombardier Commercial Aircraft.
"This announcement, witnessed at the highest levels by both governments, reflects extremely well on the cooperation between Bombardier and China in the aviation sector, as well as on the overall economic relations between Canada and China," said Minister Baird.
As previously announced by Bombardier, based on list prices of CS100 and CS300 aircraft, the contract is valued at approximately $1.02 billion US. Should all 15 options be exercised, the value of the contract would increase to $2.07 billion US.
"Given ongoing high fuel prices and increased environmental concerns, older and less efficient aircraft represent one of the greatest challenges to airlines," said Mr. Wang. "Following an in-depth analysis of existing and re-engined aircraft, the CSeries family of airliners, with its unmatched economics, advanced technology, excellent operational flexibility, as well as its outstanding performance seemed like the obvious choice and shows great potential for operators in China and abroad."
"We are delighted with this landmark agreement between CLC and Bombardier, as it not only represents the first Chinese customer to select the CSeries airliners, but also demonstrates the flexibility designed into these game-changing aircraft, as required by the diversity of our customers," said Mr. Arcamone. "With the aircraft having recently completed its historic maiden flight, the worldwide momentum of interest for the CSeries aircraft program continues to grow and we are pleased that yet another leading lessor has placed its trust in the CSeries airliner," he added.
"With its superb performance and cabin flexibility, as well as its transcontinental range and superior field performance, the CSeries aircraft is tailor-made to meet the fleet expansion needs of Chinese operators, and is an ideal complement to China's domestic products," said Mr. Solem.