Commercial Aviation
CDB Aviation Leases Boeing 737 MAX Aircraft to Ethiopian Airlines
CDB Aviation partners with Ethiopian Airlines to lease two Boeing 737 MAX 8 jets supporting fleet expansion under Vision 2035 plans.
CDB Aviation and Ethiopian Airlines Forge New Partnership with 737 MAX Lease
In a significant move for the African aviation sector, Dublin-based global aircraft lessor CDB Aviation has officially partnered with Ethiopian Airlines, the continent’s largest carrier. The two companies have signed a lease agreement for two new Boeing 737 MAX 8 aircraft, marking a new chapter of collaboration. This deal, announced on November 17, 2025, underscores a broader trend of strategic fleet management as airlines navigate a complex global supply chain while pursuing ambitious growth targets.
The agreement is more than a simple transaction; it represents a strategic alignment. For Ethiopian Airlines, it’s a tactical step in its long-term “Vision 2035” strategy, which aims to dramatically expand its fleet and global network. For CDB Aviation, it serves as a crucial entry point into the burgeoning African market, partnering with its most prominent and profitable airline. The two aircraft, scheduled for delivery in the first half of 2026, will bolster Ethiopian’s fleet with modern, fuel-efficient technology, essential for sustainable growth and operational efficiency.
Ethiopian Airlines: Fueling an Ambitious “Vision 2035”
This lease agreement is a calculated component of Ethiopian Airlines’ aggressive long-term growth plan, known as “Vision 2035.” This comprehensive strategy is designed to cement the airline’s position as a dominant force in global aviation. The core objective is to more than double its operational footprint over the next decade, a goal that requires a substantial and modern fleet. The airline is not just adding planes; it is methodically building capacity to meet projected demand and expand its reach across continents.
The numbers behind “Vision 2035” are formidable. Ethiopian Airlines aims to increase its fleet to 270 aircraft and expand its destination network to 200 cities by 2035, a significant jump from its current 131 routes. To achieve this, the carrier has placed substantial orders directly with manufacturers. These include a 2023 order for 11 Boeing 787 Dreamliners and 20 Boeing 737 MAX aircraft. Furthermore, in March 2024, Ethiopian became the first African customer for the Boeing 777X, agreeing to purchase eight 777-9 jets with an option for 12 more. This blend of direct purchases and strategic leasing allows the airline to maintain its growth momentum, even when faced with manufacturing delivery delays.
Leasing aircraft, such as these two 737 MAX 8s from CDB Aviation, provides critical flexibility. It allows the airline to scale its fleet in a timely manner, bridging gaps left by production schedules and ensuring that its expansion plans remain on track. This approach mitigates risk while providing immediate access to the latest-generation aircraft, which are crucial for reducing fuel consumption and enhancing passenger experience. The 737 MAX, in particular, aligns perfectly with the airline’s focus on efficiency and modernity, supporting both regional and international routes effectively.
“We want to multiply the number of destinations by the end of the year 2035, and for this reason, we must strengthen our fleet with several new aircraft.”, Mesfin Tasew, CEO of Ethiopian Airlines
CDB Aviation: Expanding a Global Footprint into Africa
CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd., is a major force in the global aircraft leasing market. The company has built a reputation for maintaining a diverse and modern portfolio, catering to a wide range of international airlines. This latest agreement with Ethiopian Airlines is a testament to its strategic goal of expanding its global reach into new and promising markets.
The lessor’s recent activity highlights its robust market presence. CDB Aviation has recently signed deals with carriers across the globe, including Loong Air in China for six Airbus A321neos, Volaris in Mexico for five A320neo family aircraft, and Azerbaijan Airlines for two Airbus A320neos. In 2024 alone, the company executed 70 aircraft transactions, covering leases, sales, and acquisitions. Demonstrating strong forward planning, CDB Aviation has already placed 100% of its new aircraft scheduled for delivery in 2025 and 90% of those for 2026, indicating high demand for its assets.
Partnering with Ethiopian Airlines is a landmark achievement for CDB Aviation. It marks a strategic entry into the African continent with the region’s premier carrier. The African aviation market is widely projected to experience a rapid surge in growth, driven by an expanding middle class and increasing demand for both business and leisure travel. This partnership positions CDB Aviation to capitalize on this trend, establishing a strong foothold in a market with immense potential.
“The African aviation market is primed for a rapid surge in growth, with a population that increasingly wants to fly, for business and pleasure. With continued investments fueling the growth of its fleet, Ethiopian is well positioned to increase connectivity across the continent, making travel more accessible.”, Jie Chen, CEO of CDB Aviation
A Strategic Partnership for a Growing Market
The lease of two Boeing 737 MAX 8 aircraft is a strategically sound move for both CDB Aviation and Ethiopian Airlines. For Ethiopian, it is a tactical acquisition that supports its ambitious fleet modernization and expansion goals under “Vision 2035.” It provides the airline with immediate access to modern, fuel-efficient aircraft, helping to manage its growth trajectory amidst potential manufacturing delays. This ensures the carrier can continue to expand its network and enhance its service without losing momentum.
For CDB Aviation, this agreement marks a successful and significant entry into the burgeoning African aviation market. By partnering with the continent’s largest and most profitable airline, CDB Aviation not only diversifies its customer base but also positions itself at the forefront of Africa’s expected air travel boom. The deal highlights broader industry trends, including the increasing reliance on leasing as a flexible fleet management tool and the universal push towards more efficient and sustainable aircraft to meet both economic and environmental goals.
FAQ
Question: What is the core of the agreement between CDB Aviation and Ethiopian Airlines?
Answer: CDB Aviation will lease two new Boeing 737 MAX 8 aircraft to Ethiopian Airlines. The aircraft are scheduled for delivery in the first half of 2026.
Question: Why is this deal significant for Ethiopian Airlines?
Answer: It is a key part of the airline’s “Vision 2035” long-term strategy to expand its fleet to 270 aircraft and its network to 200 destinations. Leasing helps the airline manage its growth and mitigate the impact of potential aircraft delivery delays from manufacturers.
Question: What does this partnership mean for CDB Aviation?
Answer: It marks CDB Aviation’s strategic entry into the growing African aviation market by partnering with the continent’s largest and most successful carrier.
Sources: CDB Aviation Press Release
Photo Credit: Boeing
Commercial Aviation
IAG Cargo, MASkargo, Qatar Airways Cargo Complete Trial
The three carriers moved 11 tonnes of copper foil from Kuala Lumpur to Chicago ahead of their late 2026 joint business launch.
IAG Cargo, MASkargo, and Qatar Airways Cargo have successfully completed their first trilateral customer shipment trial, moving 11 tonnes of copper foil from Malaysia to the United States across all three carriers’ networks. The shipment serves as a primary operational test of the integrated routing and handling systems required for the alliance.
Announced in a September 17, 2026, press release, the trial marks a critical milestone ahead of the planned late 2026 launch of the Global Cargo Joint Business. The cargo originated at Kuala Lumpur International Airport (KUL) and arrived at Chicago O’Hare International Airport (ORD), transiting through intermediate hubs in Doha (DOH) and Dublin (DUB).
Operational integration and network routing
The successful transport of the 11-tonne shipment required coordinated logistics across multiple global hubs. By routing the cargo through Doha and Dublin before its final transatlantic leg to Chicago, the Cargo-Aircraft carriers tested the seamless transfer of goods, data, and handling procedures between their respective operational systems.
Qatar Airways Cargo Chief Officer Cargo Mark Drusch stated the tripartite shipment showcased the operational alignment and connectivity that will underpin the joint venture. He noted the collaboration aims to build a global cargo offering with greater reach and routing flexibility for freight forwarders and direct customers.
MASkargo (MAB Kargo Sdn. Bhd.) Chief Executive Officer Mark Jason Thomas added that the shipment demonstrates the Partnerships potential to strengthen links between Asian production centers and global demand markets. The trial validates the technical and physical handoffs required to move industrial materials across three distinct airline networks.
Building the Global Cargo Joint Business
First announced in 2025, the Global Cargo Joint Business is designed to eventually provide customers access to over 400 destinations across six continents. The alliance requires deep integration of ground handling and terminal operations at key strategic hubs to function effectively.
The carriers have spent the past year aligning their physical infrastructure. In 2025, MASkargo introduced handling operations at London Heathrow Airport (LHR). Earlier in 2026, IAG Cargo was appointed as the ground handling agent for Qatar Airways Cargo in Dublin and at Adolfo Suárez Madrid–Barajas Airport (MAD), securing the European transfer points for the network.
IAG Cargo Chief Executive Officer David Shepherd emphasized the ongoing work to align operations, systems, and expertise across the three companies.
Completing our first trilateral customer shipment is a significant milestone as we continue preparations for the launch of the Global Cargo Joint Business, which will redefine international air cargo.
AirPro News analysis
The successful execution of a trilateral shipment involving three major international carriers highlights the complex logistical choreography required to launch a unified global cargo network. We view the strategic placement of ground handling agreements, such as IAG Cargo managing Qatar Airways Cargo operations in Dublin and Madrid, as the foundational infrastructure making this joint business viable. If the late 2026 launch proceeds as planned, the combined network of over 400 destinations will position this alliance as a formidable competitor in the global air freight market, particularly for high-value manufacturing exports moving from Asia to North America.
Sources: IAG Cargo
Photo Credit: IAG Cargo
Aircraft Orders & Deliveries
Aeroflot Orders 90 MC-21-310 Aircraft With 22-Year Support Deal
Aeroflot Group finalizes a firm order for 90 MC-21-310 narrowbodies, with deliveries from 2029 to 2032 and a 22-year domestic support contract.
Aeroflot Group has finalized a firm order for 90 Yakovlev MC-21-310 narrowbody aircraft, securing a long-term fleet renewal strategy as international sanctions restrict access to Western-built airframes.
The agreement, signed on September 18, 2026, by subsidiaries of Rostec State Corporation and Aeroflot, includes a 22-year comprehensive technical support package. According to a press release from the Official Website of the President of Russia, the contract covers post-sale maintenance for 108 aircraft in total, encompassing the 90 newly ordered airframes and 18 previously contracted units. Russian President Vladimir Putin oversaw the signing ceremony via videoconference from The Kremlin, alongside an in-person event at Sheremetyevo International Airport (SVO).
Delivery Schedule and Production Targets
Deliveries of the 90 newly ordered MC-21-310 aircraft are scheduled to occur between 2029 and 2032. Reporting by Interfax indicates a phased delivery schedule: 14 aircraft in 2029, 18 in 2030, 24 in 2031, and 34 in 2032.
Prior to this batch, Aeroflot is slated to receive its first 18 previously contracted MC-21 aircraft starting in 2027. The gap between the initial 2027 deliveries and the 2029 start of the larger order highlights the transition period required for United Aircraft Corporation (UAC) to scale up serial production of fully domestic components.
Rostec CEO Sergei Chemezov emphasized the industrial impact of the agreement, telling Interfax that the contract secures a clear production workload and establishes the foundation for a systematic ramp-up of serial manufacturing.
During the ceremony, President Putin noted the broader economic implications, stating that the long-term contract will fill the order books of domestic aircraft manufacturers, suppliers, and contractors.
Infrastructure Modernization and Domestic Connectivity
To support the integration of the new domestic fleet, the Russian government presented several newly completed aviation infrastructure projects during the September 18 event. The Kremlin reported that 20 runways and 26 airport terminal complexes have been commissioned across Russia since 2021.
Officials unveiled new passenger terminals at Barnaul Airport, Orenburg Airport, and Pskov Airport. Additional infrastructure upgrades included a new runway and air traffic control tower at Makhachkala Airport, alongside an upgraded air border crossing point at Yuzhno-Sakhalinsk Airport.
The government outlined a target to modernize a minimum of 75 Russian airports by 2030. To maintain strategic air routes during this infrastructure and fleet transition, the federal budget allocated 50 billion rubles over the current and previous year for route subsidies.
Fleet Transition Strategy
The MC-21-310 serves as Russia’s primary domestic alternative to Western narrowbody aircraft. The comprehensive technical support agreement, involving UAC and United Engine Corporation (UEC), mandates that maintenance and component replacement remain entirely within the domestic aerospace ecosystem for the 22-year duration of the contract.
AirPro News analysis
We view this 90-aircraft order as a definitive indicator of Russia’s timeline for achieving aerospace autarky. While the firm order provides UAC with a guaranteed backlog, the delayed delivery window of 2029 to 2032 for the bulk of the fleet underscores the engineering and supply chain hurdles involved in substituting Western avionics, engines, and composite materials. The operational success of the MC-21 program will depend heavily on UEC’s ability to reliably produce and support the domestic PD-14 engines at scale, a capability that remains untested over a multi-decade commercial lifecycle.
Photo Credit: Kremlin
Aircraft Orders & Deliveries
Pre-Owned Aircraft Inventory Remains Below 2025 Levels
Sandhills Global August 2026 data shows used jet inventory down 22% year-over-year as asking prices soften across most categories.
Pre-owned aircraft inventory levels remained significantly lower in August 2026 compared to the previous year, driven by a 37.73 percent year-over-year drop in available used large jets.
In a press release issued on September 4, 2026, Sandhills Global published its August aviation market reports. The data indicates a continued tightening of supply in the pre-owned aircraft market compared to 2025, while asking prices displayed mixed trends across different aircraft categories.
Jet and turboprop market dynamics
According to the Sandhills Global report, the global used jet aircraft inventory increased by 1.09 percent month-over-month in August 2026. This slight monthly gain did not offset the broader trend, as total jet inventory fell 22.32 percent year-over-year. Global asking prices for used jets decreased by 0.88 percent from July 2026 and dropped 1.85 percent compared to August 2025.
The global used turboprop aircraft market exhibited a similar pattern. Inventory rose 4.04 percent month-over-month but remained 9.92 percent below August 2025 levels. Asking values for used turboprops decreased 2.35 percent month-over-month and saw a marginal 0.14 percent decline year-over-year.
Piston aircraft and Helicopters trends
In the United States and Canada, the used piston-single aircraft inventory rose 2.8 percent month-over-month in August 2026. Similar to the turbine markets, this category experienced an 11.75 percent year-over-year decrease. Asking values for used piston-single aircraft decreased 0.93 percent month-over-month and 1.6 percent year-over-year.
The global market for used Robinson piston helicopters saw inventory increase by 1.19 percent month-over-month, while year-over-year inventory decreased by 10.53 percent. Asking values for these helicopters dropped 9.33 percent from July 2026 but recorded a 0.79 percent increase compared to August 2025.
AirPro News analysis
We observe a consistent pattern of constrained supply across all tracked pre-owned aviation sectors when comparing 2026 to 2025. The August 2026 data aligns closely with the July 2026 figures previously reported by Sandhills Global, where large jets posted a 39.6 percent year-over-year inventory decrease. The modest month-over-month inventory gains across jets, turboprops, and piston aircraft suggest the rate of inventory depletion may be stabilizing. The corresponding softening in asking prices across most categories indicates that buyers are not currently willing to pay a premium despite the lower year-over-year supply.
Sources: Sandhills Global via PR Newswire
Photo Credit: Sandhills Global
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