Former Aer Lingus chief Stephen Kavanagh joins board of Chinese aircraft lessor

Former Aer Lingus chief executive Stephen Kavanagh is joining the board of Irish-based Chinese-owned aircraft lessor, CDB Aviation.

Dublin-based CDB, part of China Development Bank Financial Leasing Co, owns 226 aircraft, manages a further five and has committed to buy another 196. The company struck $3.2 billion worth of deals last year.

CDB said on Wednesday it had appointed Mr Kavanagh as a non-executive director to its board.

Mr Kavanagh stepped down as Aer Lingus chief executive last year following a 30-year career with the Irish airline, much of it spent in senior roles. These included chief strategy and planning officer, chief commercial officer and corporate planning director.

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While he was chief executive, Aer Lingus grew revenues by one-third to more than €2 billion. He also oversaw its sale to International Consolidated Airlines Group. Mr Kavanagh remained on the Aer Lingus board as a non-executive director.

Peter Chang, CDB's chief executive, said the company was "thrilled" to welcome Mr Kavanagh to its board. "Stephen's demonstrated track record in the airline sector will be a strong addition to our board and will further propel the growth and globalisation of our platform."