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13/11/2013

WIZZ AIR SIGNS 6 AIRCRAFT DEAL WITH BIGGEST CHINESE FINANCING COMPANY

Wizz Air, the largest low-cost airline in Central and Eastern Europe, announced today that it had concluded a sale and leaseback agreement with CDB Leasing Co., Ltd (CLC) for the financing of six new Airbus A320 aircraft. The airplanes are planned for deliveries in 2014 and 2015 and at today’s list price would be valued at US$ 549 million.

Mr. Péter Szijjártó, State Secretary for Foreign Affairs and External Economic Relations and Commissioner for the Coordination of Hungarian-Chinese Bilateral Relations of the Hungarian Government, said: “The aircraft financing agreement between Wizz Air and CDB creates the opportunity for Wizz Air to open new routes, since it allows the airline to finance the acquisition of 6 further airplanes. This will make Wizz Air the operator of one of the youngest aircraft fleets in Europe.”

József Váradi, Chief Executive Officer of Wizz Air, said: “We are pleased to reach a new milestone for Wizz Air as well as for Chinese – Hungarian business relations. This is our second aircraft leasing transaction in the Chinese financing market. I look forward to a successful long term partnership with CDB Leasing. The addition of these six new aircraft will reinforce our market position in Europe, accommodate our announced route and base network expansion.. We would like to thank CDB Leasing for their support and confidence in Wizz Air.”

Mr. Chong Wang, Chairman of CDB Leasing, said: “CDB Leasing is the largest Chinese leasing company both in terms of registered capital and asset value. Its total aircraft asset value ranks amongst the top 10 professional aviation leasing firms in the world and our cooperation in this 6 A320 sale and lease-back project is another milestone for our global business. Wizz Air and CDB Leasing form a perfect patnership and will work together to promote the development of aviation business.”