CDB Aviation Names Michelle Wu Head of Commercial, Greater China

HONG KONG–(BUSINESS WIRE)–CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today the appointment of Michelle Wu as Head of Commercial, Greater China.

“Michelle is a seasoned aviation executive, well versed in anticipating and addressing the critical needs of airlines and leveraging market opportunities to stimulate growth, who will further entrench our comprehensive coverage within the Chinese market,” commented Peter Goodman, CDB Aviation Chief Marketing Officer.

Wu’s more than three decades of experience in aviation finance and aircraft leasing is anchored with her impressive history of transactional execution, deal origination and negotiation, as well as her vast network of connections with Chinese airlines and key aviation stakeholders.

Wu joins CDB Aviation from GECAS, where she spent a more than two-decade career holding various executive roles focused on executing marketing efforts and nurturing key airline relationships in the region. Most recently, she was Senior Vice President Marketing Commercial & Regional Manager China, leading the lease placement, extension, and sale and leaseback of more than 350 new and used aircraft and freighters. Prior to GECAS, Wu was Deputy Director of Leasing Office at Civil Aviation Administration of China (“CAAC”), where she arranged aircraft financings for CAAC affiliate airlines and, in her regulatory capacity, participated in drafting the related aviation laws and regulations in China. Wu holds an undergraduate degree from Nankai University and a postgraduate degree from the University of Limerick.

“I look forward to working alongside my colleagues, tapping into my intricate market knowledge and relationships, to deepen our customer relationships and seek further growth opportunities in China,” commented Michelle Wu, the newly appointed Head of Commercial, Greater China.

Patrick Hannigan, CDB Aviation’s Chief Executive Officer, concluded: “CDB Aviation’s ongoing growth and success in the marketplace will continue to be driven by a priority focus on China and its significance as a critical aviation market. Michelle is a leader of the highest calibre and joins our best-in-class team of leasing and finance leaders who deliver on the strength of our brand as a global, full-service lessor. Our team remains focused on our long-term vision by working with airline customers, our shareholder, and other stakeholders to support the industry recovery while building for the future.”

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 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