CDB Aviation Completes Deliveries of Seven 737 MAX Aircraft to Brazil’s GOL

Rhea-AI Summary

CDB Aviation, a subsidiary of China Development Bank Financial Leasing Co., has announced the delivery of the final Boeing 737 MAX 8 aircraft from an order of seven to GOL Linhas Aéreas, Brazil's largest domestic airline. This delivery increases GOL's MAX fleet to twenty-four aircraft, expected to enhance operational efficiency and support market expansion. The aircraft are designed for improved fuel efficiency and reduced carbon emissions, aligning with GOL's goal of achieving carbon neutrality by 2050.

Positive

• Delivery of the last of seven Boeing 737 MAX 8 aircraft enhances GOL's fleet size and operational capabilities.
• The MAX aircraft consumes 15% less fuel and produces 16% fewer carbon emissions compared to previous models.
• GOL's accelerated fleet transformation positions it for growth and improved service quality in the post-pandemic travel recovery.

Negative

• None.

Aircraft Delivered from Lessor’s Orderbook Accelerate Airline’s Fleet Transformation

SÃO PAULO--(BUSINESS WIRE)-- CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the delivery of the last of seven Boeing 737 MAX 8 aircraft to GOL Linhas Aéreas Inteligentes S.A. (“GOL”; NYSE: GOL and B3: GOLL4), Brazil’s largest domestic airline.

The aircraft, configured with a 186-seat layout, incorporating both GOL+Conforto and GOL Premium class seats, were delivered from the lessor’s orderbook with Boeing as part of the lease agreements originally signed with the carrier in 2020.

“Our teams worked side-by-side to execute leases and deliver all these aircraft in very adverse conditions throughout the pandemic. GOL is a great customer that has all our trust,” pointed out Luís da Silva, CDB Aviation’s Head of Commercial, Americas. “The 737 MAX is expected to transform GOL’s fleet, providing significant efficiency gains, while supporting deeper penetration into existing markets and new opportunities for expansion.”

"The delivery of this last aircraft in a package of seven 737 MAX 8s from CDB Aviation marks a milestone in GOL history, our MAX fleet reaching twenty-four aircraft with this delivery. This accelerated fleet transformation plan ensures we can serve our customers better, with more comfort and environmental responsibility,” said Celso Ferrer, GOL’s COO. “The MAX being a key component in the company’s goal to reach carbon neutrality by 2050, as this aircraft consumes 15% less fuel, produces 16% fewer carbon emissions, and 40% less noise, and has a greater flight range than the next generation aircraft.”

“GOL has been at the forefront of the industry, making investments during the pandemic in the modernization of their fleet and accelerating expansion plans in anticipation of the strong recovery of air travel in the post-pandemic environment,” contended Peter Goodman, CDB Aviation’s Chief Marketing Officer. “Our commercial team remains steadfast in finding ways to support customers’ unique needs, enabling them to remain competitive and tap into growth opportunities.”

Forward-Looking Statements

This press release contains certain forward-looking statements, beliefs or opinions, including with respect to CDB Aviation’s business, financial condition, results of operations or plans. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ”may,” “will,” “seek,” “continue,” “aim,” “anticipate,” “target,” “projected,” “expect,” “estimate,” “intend,” “plan,” “goal,” “believe,” “achieve” or other terminology or words of similar meaning. These statements are based on the current beliefs and expectations of CDB Aviation’s management and are subject to significant risks and uncertainties. Actual results and outcomes may differ materially from those expressed in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.

About GOL

GOL Linhas Aéreas Inteligentes S.A. (“GOL”) is Brazil's largest airline, leader in the corporate and leisure segments. Since its founding in 2001, it has been the airline with the lowest unit cost in Latin America, which has enabled the democratization of air transportation. The Company has alliances with American Airlines and Air France-KLM, in addition to making available to Customers many codeshare and interline agreements, bringing more convenience and ease of connections to any place served by these partnerships. With the purpose of "Being First for Everyone", GOL offers the best travel experience to its passengers, including: the largest inventory of seats and the most legroom; the most complete platform with internet, movies and live TV; and the best loyalty program, SMILES. In cargo transportation, GOLLOG delivers parcels to various regions in Brazil and abroad. The Company has a team of 15,000 highly qualified airline professionals focused on Safety, GOL's number one value, and operates a standardized fleet of 127 Boeing 737 aircraft. GOL's shares are traded on the NYSE (GOL) and the B3 (GOLL4). www.voegol.com.br/ri

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”) a 37-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A2), S&P Global (A), and Fitch (A+). China Development Bank is under the direct jurisdiction of the State Council of China and is the world’s largest development finance institution. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating.

CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China’s leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and marketize its business – listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606). www.CDBAviation.aero

View source version on businesswire.com: https://www.businesswire.com/news/home/20220128005469/en/

Paul Thibeau

Paul.THIBEAU@CDBAviation.aero; +1 612-594-9844

Source: CDB Aviation

FAQ

What does the latest delivery of Boeing 737 MAX 8 aircraft mean for GOL?

The delivery marks a significant milestone for GOL, enhancing their fleet and operational efficiency as they aim for market growth.

How many Boeing 737 MAX 8 aircraft does GOL now operate?

With this delivery, GOL's MAX fleet increases to twenty-four aircraft.

What are the environmental benefits of the new Boeing 737 MAX 8 aircraft?

The MAX aircraft is designed to consume 15% less fuel, produce 16% fewer carbon emissions, and reduce noise by 40%.

What is GOL's goal regarding carbon emissions?

GOL aims to achieve carbon neutrality by 2050, and the new MAX aircraft plays a key role in this goal.