CDB Aviation Leases Three A320neo Aircraft to Colorful Guizhou Airlines

CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. ("CDB Leasing"), announced the delivery of the first of three Airbus A320neo aircraft to a new Chinese airline customer, Colorful Guizhou Airlines Co., Ltd. ("Colorful Guizhou Airlines").

The Guiyang-based carrier received the A320-251N aircraft during a delivery ceremony held in Tianjin, China, on June 14, 2024, which coincided with the ninth anniversary of the airline's establishment. The aircraft is configured with four business and 168 economy class seats. The remaining two aircraft are scheduled to be delivered to the airline before 2025.

"This new partnership with Colorful Guizhou Airlines demonstrates our ongoing commitment to building and cultivating long-term relationships with airlines in all key aviation markets," commented Jie Chen, CDB Aviation's Chief Executive Officer. "We are confident that this new modern, fuel-efficient aircraft will greatly benefit Colorful Guizhou Airlines' operations in support of the airline's fleet expansion plans."

"We are pleased to have successfully introduced our tenth A320neo aircraft. Not only is this an important milestone in the development of Colorful Guizhou Airlines, but also a crucial step towards our future. The newly joined aircraft will further enhance our capacity and operational efficiency," commented Fanyu Liu, Colorful Guizhou Airlines' Deputy Secretary of the Party Committee. "We are delighted to establish a good cooperative relationship with CDB Aviation, and we hope to continue to deepen communication, explore new cooperation opportunities, and jointly promote innovative development in the future."

"I would like to share my true appreciation for both the Colorful Guizhou Airlines and internal CDB Aviation teams for their outstanding collaboration on structuring and executing this transaction from our orderbook, facilitating our platform's first delivery to the newest customer in China," added Chen.

Forward-Looking Statements

This press release contains certain forward-looking statements, beliefs or opinions, including with respect to CDB Aviation's business, financial condition, results of operations or plans. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as "may," "will," "seek," "continue," "aim," "anticipate," "target," "projected," "expect," "estimate," "intend," "plan," "goal," "believe," "achieve" or other terminology or words of similar meaning. These statements are based on the current beliefs and expectations of CDB Aviation's management and are subject to significant risks and uncertainties. Actual results and outcomes may differ materially from those expressed in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.

About Colorful Guizhou Airlines

As the only local airline in Guizhou Province, Colorful Guizhou Airlines has always adhered to the development concept of "Rooted in Guizhou, Embracing China, and Aspiring to the World." After 9 years of continuous development, its fleet size has reached to 19 aircraft (10 x A320 + 9 x E190), fly to 47 cities with 52 routes. The routes cover important node cities in Beijing-Tianjin-Hebei Region, Yangtze River Delta, Pearl River Delta, Central China, Northwest China, and Northeast China, and have initially formed a route network "to develop an extensive national network, with a focus on trunk routes, supplemented by regional routes." In the future, the company will continuously optimize its route network, strengthen regional coordination, and comprehensively promote intelligent operation. The airline will also continuously optimize their official website, WeChat, mini programs, and other all media platforms, improve its information technology, strengthen digital technology innovation, and enhance the digital security. Continuously empowering important areas, such as: safety production, aviation services, and green development through digitization. www.cgzair.com

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. ("CDB Leasing") a 39-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody's (A2), S&P Global (A), and Fitch (A+). China Development Bank is under the direct jurisdiction of the State Council of China and is the world's largest development finance institution. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating.

CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China's leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and marketize its business ? listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606). www.CDBAviation.aero