July 13, 2024

Azerbaijan Airlines to Lease Two Airbus A320neo Aircraft from CDB Aviation

CDB Aviation has signed lease agreements with Azerbaijan Airlines for two Airbus A320neo aircraft, set for delivery in mid-2025. This partnership marks CDB Aviation’s first transaction in Azerbaijan, enhancing AZAL’s fleet with modern, fuel-efficient aircraft.

Azerbaijan Airlines

Photo Source: Azerbaijan Airlines

CDB Aviation has finalized lease agreements with Azerbaijan Airlines (AZAL) for two Airbus A320neo aircraft. As one of the largest carriers in the Commonwealth of Independent States (CIS), AZAL is set to receive these aircraft in June and July 2025. This move aligns with AZAL’s strategy to modernize its fleet with the latest, fuel-efficient models.

Jie Chen, CDB Aviation’s Chief Executive Officer, highlighted the significance of this deal, noting that it marks the company’s first transaction in Azerbaijan and expands their customer base in the region. “We believe the addition of these next-generation A320neo aircraft will significantly contribute to AZAL’s sustainable growth, offering passengers enhanced comfort across their fleet,” Chen stated.

AZAL’s future plans include the acquisition of eight Boeing 787-9s starting in 2026 and Airbus NEOs starting in 2028, primarily for fleet replacement. However, due to strong market growth, additional aircraft for expansion will be sourced from lessors.

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