CDB Leasing buys 10 E-190s for lease to China Southern

Embraer has confirmed the sale of 10 Embraer 190s to CDB Leasing Company (CLC) of China, which will be operated by China Southern Airlines to develop new markets, with first delivery expected in the second half of 2011.

“Embraer is delighted to complete the first operation under the Memorandum of Understanding signed with CDB Leasing, in 2009, for the purchase and leasing of E-Jets. This deal reaffirms their strong recognition and confidence in our products, as well as in the prospects for China’s regional aviation growth,” said Paulo César de Souza e Silva, Embraer executive vice-president, airline market. “We are proud to welcome China Southern as the newest E-Jet operator and another prominent airline on our customer roster. We are certain that the Embraer 190 will be an important tool to support the company’s market development strategy.”

“We are very pleased to make this significant deal with Embraer, and are honoured to cooperate with China Southern, again,” remarked Wu Rongyang, vice-president of CDB Leasing. “This transaction is an important measure to support the airline’s aviation market expansion in Xinjiang and the economic development of the Xinjiang region. The deal will facilitate the strategic partnership between CLC and Embraer.”

“China Southern enjoys the good partnership with Embraer and is full of confidence in its products. The E-190 is a successful type of aircraft with proven economics and performance, and it is well received by the market,” noted Xu Jiebo, vice-president of China Southern Airlines.

The deal is within the framework of a Memorandum of Understanding signed by Embraer and CLC, in December 2009, which aims to create financing opportunities for selling Embraer aircraft to the Chinese and international markets. CLC is a major financial leasing company held by the China Development Bank, and one of the most important international aviation financing institutions.

China Southern has been an operator of ERJ 145s since 2004, with a fleet of six aircraft. In 2009, the company was awarded by Embraer for its successful operation of this aircraft model, in terms of pilot training, market development and maintenance improvement.

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