CDB Aviation, the wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), has announced the signing of lease agreements with Ethiopian Airlines, marking a significant addition to the lessor’s global customer network. Under the newly executed agreements, CDB Aviation will deliver two Boeing 737 MAX 8 aircraft to Ethiopia’s flag carrier, recognized as Africa’s largest airline, further strengthening the carrier’s ongoing fleet modernization efforts.
Jie Chen, Chief Executive Officer of CDB Aviation, expressed strong enthusiasm for the new partnership. “On behalf of CDB Aviation, I am very proud to welcome Ethiopian Airlines to our global customer family, with the lease agreements executed for these two Boeing 737 MAX 8 aircraft to be delivered in 2026,” he said. Chen emphasized that this collaboration reflects the lessor’s continued commitment to supporting high-growth airlines and delivering advanced, fuel-efficient aircraft tailored to evolving operational needs.
The two Boeing 737 MAX 8 jets are scheduled for delivery during the first half of 2026. Once in service, the aircraft will play an integral role in bolstering Ethiopian Airlines’ ambitious growth strategy, which centers on operating a younger, more efficient, and environmentally advanced fleet. As the airline expands its regional and international services, the MAX 8 will offer improved fuel burn, operational reliability, and enhanced passenger comfort.
Chen highlighted the promising outlook for air travel on the African continent. “The African aviation market is primed for a rapid surge in growth, with a population that increasingly wants to fly, for business and pleasure,” he noted. “With continued investments fueling the growth of its fleet, Ethiopian is well positioned to increase connectivity across the continent, making travel more accessible.” He added that CDB Aviation is pleased to support such momentum by providing modern aircraft that will help airlines meet rising demand efficiently and sustainably.
About CDB Aviation
CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a 40-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 one of the world’s largest development finance institutions. 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).
