CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing Co, has promoted Sign Kadouh to the new role of head of Asia Pacific from his previous role of head of commercial, Asia Pacific.

Patrick Hannigan, chief executive of the CDB Aviation, credited Kadouh for being instrumental in “building a strong and sustainable customer base and achieving a remarkable track record in executing transactions with Asia Pacific’s leading airlines while fortifying CDB Aviation’s reputation as the ‘go-to’ full-service lessor in the region.”

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Kadouh has more than a decade of experience in aviation finance and legal and has spent nearly a decade of his career working in the Asia Pacific. Prior to CDB Aviation, Kadouh served as vice-president, legal, at International Lease Finance Corporation and AerCap (post the 2014 acquisition). He advised leasing teams on legal matters and led aircraft lease negotiations across the Asia Pacific.

Kadouh said: “I look forward to leveraging the strength of our team’s capabilities to bring us closer to our customers across the Asia Pacific and to better serve their needs with our full product set.”

The International Air Transport Association estimates that air travel in the Asia Pacific will be greater than the next two markets North America and Europe combined, with the number of air passengers moving through the region to reach nearly five billion by 2035, CDB Aviation said in a statement.

With Asia Pacific’s fleet expected to treble to more than 17,000 by 2035, this growth represents approximately 38% of all new aircraft being delivered to airlines that will be based in the region. China will continue to lead in the Asia Pacific region in terms of new deliveries.

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“As a result, there will be a significant need for aircraft leasing and financing among Asian airlines to meet the rapidly growing demand,” asserted Hannigan. “Given that aviation is a catalyst for the region’s economic growth, such an increase in aircraft demand and reliance on lease financing will continue to present attractive investment opportunities for us.”

Hannigan concluded that China is “where our roots and foundation are, and where we hold unique relationships with its airlines, as well as where our shareholder, China Development Bank, is focused on growing aviation’s footprint. We look forward to exploring opportunities to work with COMAC along with other OEMs and leveraging the strength of our global leasing platform and our team’s capabilities to benefit airlines in China and beyond.”

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co, a 35-year-old Chinese leasing company that is backed mainly by the China Development Bank.

CDB Leasing is the only leasing arm of the China Development Bank that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating.