CDB LEASING's subsidiary has entered into a purchase and leaseback agreement for 4 new B737 MAX 8 aircraft
CDB LEASING's wholly-owned subsidiary CDB Aviation Lease Finance DAC has signed a purchase and leaseback agreement with the seller to purchase 4 new B737 MAX 8 aircraft. The seller is Arctic Aviation Assets DAC, which is a wholly-owned subsidiary of Norwegian Air Shuttle ASA. The aircraft will be leased to the lessee through an operating lease agreement
According to the announcement from CDB Leasing (01606), on December 19, 2024, a special purpose company of its wholly-owned subsidiary CDB Aviation Lease Finance DAC (“CDBALF”) entered into an aircraft purchase and leaseback agreement with the seller, under which the seller has agreed (including) to transfer the seller's rights to the lessor (“a wholly-owned subsidiary of CDBALF”) to purchase and receive 4 new B737 MAX 8 aircraft from Boeing in accordance with the original purchase contract between the seller and Boeing. Each aircraft will be leased to the lessee by the lessor through an operating lease agreement after delivery.
It is reported that the seller is a wholly-owned subsidiary of Arctic Aviation Assets DAC, which primarily engages in aviation business. Arctic Aviation Assets DAC is a wholly-owned subsidiary of Norwegian Air Shuttle ASA, which mainly operates air travel, domestic short-haul point-to-point flights, and cross-border flights between Nordic countries, as well as flights from Nordic countries to major destinations in Europe and neighboring countries. As of the date of this announcement, Norwegian Air Shuttle ASA is a limited liability company listed on the Oslo Stock Exchange (OSE: NAS)
