China Development Bank aviation unit buys 80 Airbus A320neos

China Development Bank Financial Leasing Co. agreed to buy 80 Airbus SE jets in the A320neo lineup to increase the proportion of more fuel-efficient next-generation aircraft in its fleet.

The planes, which would be the second-largest order by an airline or lessor for Airbus aircraft this year, are due to delivered between 2030 and 2032, China Development Bank said in a statement dated Sept. 11.

The order adds to a wider move among airlines and jet lessors placing orders stretching into next decade as Airbus and Boeing Co. have virtually run out of production slots through 2029. 

The A320 family is Airbus’s top-selling aircraft with a backlog of around 7,000 of the single-aisle jet to deliver. The Neo, which stands for new engine option, is a more efficient version of the A320.

Chinese airlines and lessors have been large buyers of Airbus aircraft in recent years. Some of China’s largest airlines bought 340 A320 family jets between them in 2022. China’s three largest carriers also ordered a combined 300 domestically-made Comac C919 planes. Meantime, Boeing’s deal drought in China, which has lasted several years, continues during geo-political tension with the US.

Shenzhen-based-CDB Aviation currently has almost 300 aircraft in its portfolio, half of them Airbus A320 family jets, and around 80 committed aircraft orders prior to this latest order.

CDB is ranked the eleventh-largest airplane lessor in the world, according to KPMG.