CDB Aviation Lease Finance will convert its order for eight Boeing 787-9s into one for 22 additional 737 Max 8s.
The lessor’s parent company CDB Financial Leasing states in a stock exchange disclosure that it agreed in April with the manufacturer to convert two of the 787s into an order for four 737 Max 8s.
On 8 August, it agreed to convert the remaining six 787-9s on order into an order for 18 737 Max 8s. All 22 additional narrowbodies are scheduled for delivery between February 2023 and May 2025.
The conversions take CDB Aviation’s backlog with Boeing to 64 737 Max 8s and 10 Max 10s. It has the right to swap the orders between the two variants, and will also maintain purchase rights for up to six 787-9s.
As the change in the order is a “material variation” to its earlier agreement, CDB Leasing shareholders will be required to approve the variation at an extraordinary general meeting that will be convened at a later date.
Flight Fleets Analyzer shows that, in addition to the 737 Max orders, CDB Aviation has two 737-800s, 90 A320neo family jets, 20 Comac ARJ-21s and 10 C919s in its backlog.