15 Jan 2026
#2 January 2026: China Aviation Industry Newsletter
CDB Aviation Signs New Sustainability-Linked Unsecured Term Loan for $710 Million
CDB Aviation has announced that its Hong Kong-based subsidiary, CDB Aviation Hong Kong Limited, has executed a new Sustainability Linked Loan (SLL) transaction on 19 December 2025, securing a five-year, $710 million unsecured term loan facility. CEO Jie Chen highlighted that this milestone marks the first time the Hong Kong entity has been appointed as the borrower for an SLL, reinforcing CDB Aviation’s position as a premier global lessor. Chen noted that the strong market interest and support further enhances the company’s cost of capital and long-term profitability outlook.
China Southern Airlines Appoints APG as GSA in Belgium and Luxembourg
China Southern Airlines has appointed APG as its General Sales Agent (GSA) in Belgium and Luxembourg to strengthen its market presence in these regions. APG will oversee sales and marketing activities on behalf of the airline, aimed at boosting sales and expanding the carrier’s footprint in both countries. APG Network President Richard Burgess expressed excitement over deepening the longstanding relationship between the two companies, adding that APG’s local teams will work closely with China Southern Airlines to enhance its sales in these strategic markets.
HRA Purchases Two Aerolíneas Argentinas 737 MAX 8 Aircraft from ICBC
High Ridge Aviation (HRA) has acquired two Boeing 737 MAX 8 aircraft (MSNs 43917 and 43918) from ICBC Aviation Leasing, completing its first transaction with the lessor. The aircraft, which remain on lease to Aerolíneas Argentinas, represent a key step in HRA’s growth strategy. CEO Greg Conlon noted that the acquisition supports Aerolíneas Argentinas’ fleet expansion needs, and underscored HRA’s ability to deliver value-driven solutions, built on strong industry partnerships and extensive experience in aircraft leasing.
Acumen’s Take
On CDB Aviation’s $710 Million SLL
The successful completion of CDB Aviation’s SLL reflects growing investor confidence in sustainable financing options within the aviation leasing sector. The deal not only strengthens CDB’s balance sheet but also supports its long-term strategic growth while adhering to sustainability goals.
On China Southern Airlines’ GSA Appointment
The appointment of APG as GSA for Belgium and Luxembourg strengthens China Southern’s European market outreach. The move supports long-term growth in two important markets and aligns with the airline’s ongoing efforts to enhance its global sales footprint.
On HRA’s 737 MAX 8 Acquisition
HRA’s acquisition of two 737 MAX 8 aircraft underscores the ongoing demand for fuel-efficient narrowbody aircraft in Latin America. By aligning with ICBC Aviation Leasing, HRA further solidifies its position as a key player in remarketing and fleet diversification.
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