CDB Aviation, an Irish subsidiary wholly owned by China Development Bank Financial Leasing (CDB Leasing), has signed lease agreements with South Korea’s T’way Air (T’way) for two brand-new Boeing 737 MAX 8 aircraft.
The two aircraft, which will be delivered from CDB Aviation’s orderbook with Boeing, are expected to be received by T’way Air between January and November 2024.
Peter Goodman, Chief Marketing Officer of CDB Aviation, expressed satisfaction with the transaction, stating, “We are delighted to strengthen our partnership with T’way Air, one of South Korea’s fastest-growing low-cost carriers, through this deal for two MAX aircraft. Our commercial team remains dedicated to expanding our presence in the region and working closely with airlines to support their immediate and long-term fleet requirements.”
T’way Air introduced the 737 MAX 8 into service in January 2023, following the induction of its first aircraft of this model in December 2022. The initial aircraft was configured with 189 single-class economy seats. Presently, the carrier operates the MAX on multiple international routes, connecting Incheon with the Philippines, Singapore, and Thailand. T’way Air intends to leverage the extended range capabilities of the MAX to expand its operations to destinations such as Indonesia and Central Asia.
T’way Air’s CEO, Hong Geun Jeong, expressed enthusiasm about strengthening their relationship with CDB Aviation, stating, “We are pleased to enhance our collaboration with CDB Aviation. Our plan involves expanding our fleet by replacing our NGs with MAXs, ensuring a delightful passenger experience with these highly efficient aircraft. We look forward to CDB Aviation’s support in achieving this strategic objective.”