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CDB Aviation Delivers First A320neo Aircraft to flynas

CDB Aviation, | February 19, 2022

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CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the delivery of the first of up to five Airbus A320neo aircraft to a new airline customer, flynas, the Saudi Arabia-based air carrier.

“This latest addition of NEO aircraft to flynas’ growing fleet advances its ambitious plans to expand the fleet and increase the scope of its offerings in line with the Vision 2030 program, The Saudi market continues to bounce back strongly post-pandemic and flynas will be well-positioned to take advantage of significant pent-up demand.”

-Patrick Hannigan, CDB Aviation’s Chief Executive Officer.

The first aircraft, with a capacity for 174 passengers, was delivered in Toulouse, France, as part of the companies’ purchase and leaseback agreements announced in late January 2022. CDB Aviation expects to take delivery of the remaining A320neo aircraft and lease them back to the carrier.

“Our commercial team continues to address airlines’ requirements in all corners of the world, leveraging our platform’s leading market position and wide-ranging financing solutions to enhance their fleets and ramp up operations in the face of the progressing recovery across the global air transport industry.”

- Peter Goodman, CDB Aviation’s Chief Marketing Officer


About flynas
flynas is a Saudi Arabian leading low-cost carrier with a fleet of 34 aircrafts, operating more than 1500 weekly flights to 35 domestic and international destinations. Since its launch in 2007, flynas has transported more than 55 million passengers, a number that has steadily grown over the past 14 years. flynas offers its guests best value for money through competitive fares, timely flights and superior customer service which has earned several accolades, including the Middle East’s Leading Low Cost Airline award from the World Travel Awards for seven consecutive years (from 2015 till 2021) as well as the prestigious Skytrax award for Middle East’s Best Low Cost Airline in (from 2017 till 2021). 

About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a 37-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.

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In an important development for the aviation industry, ZeroAvia, flies the world's largest Zero-emission aircraft powered by a hydrogen-electric engine. For this maiden flight, ZeroAvia, a leading zero-emission aviation company, used its Dornier 228, a 19-seater testbed aircraft, retrofitted with a full-size prototype hydrogen-electric powertrain on the plane's left wing. The flight took off from the R&D facility of the company at Cotswold Airport in Gloucestershire, UK, and lasted for 10 minutes. The aircraft completed taxi, takeoff, a whole pattern circuit and landing. The landmark flight was part of the HyFlyer II project, an important research and development project backed by the flagship ATI Programme of the UK Government, with a target to develop a 600kW powertrain to support 9-19 seater aircrafts to fly around the world with zero-emission. The twin-engine aircraft was retrofitted with ZeroAvia's hydrogen-electric engine on the left wing and a Honeywell TPE-331 stock engine on the right. In this testing configuration, two fuel cell stacks power the hydrogen-electric powertrain, with lithium-ion battery packs providing peak power during takeoff including redundancy for a safe test flight. Fuel cell power generation systems and Hydrogen tanks were inside this testbed cabin for testing, however, commercial configurations will restore the seats and power systems will be stored externally. The flight test campaign was conducted under a full part 21 flight authorization with UK CAA, which is a much more rigorous set of requirements compared to the E-conditions framework used for ZeroAvia's earlier 6-seat prototype test flights. However, this signifies the maturity of the company's designs and processes, also that it is ready to proceed towards full commercial certification of its power plants. ZeroAvia will work towards its certifiable configuration to provide commercial routes using the technology by 2025. The Dornier 228 will be conducting a series of test flights from Kemble and later demo flights from other airports. About ZeroAvia Founded in 2017, ZeroAvia is the developer of the first zero-emission powertrain for the aviation sector. It aims to bring Hydro-electric engines into the aircraft to address a variety of markets, initially focusing on a 300-mile range in 9–19-seater aircraft by the year 2025, and by 2027 targets up to 700-mile range for 40-80 seater aircrafts. The company is headquartered in Hollister, California, and secured experimental certificates for two prototype aircraft from CAA and FAA. The company has passed the flight test milestone and secured key partnerships with major aircraft OEMs and is on track for commercial operations by 2025.

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