Business Aviation

Brazilian aircraft builder Embraer signed a memorandum of understanding with Chinese leasing company Minsheng Financial Leasing, a subsidiary of China Banking Corporation "Minshen" (China Minsheng Banking Corporation Ltd). Under the agreement, Minsheng Financial Leasing intends to acquire 20 aircraft Embraer. This order must be converted into a solid over the next five years. Deliveries are to begin in 2011 

The company did not specify whether this aircraft Legacy 600/650, which will be assembled at a joint Brazilian-Chinese venture Harbin Embraer Aircraft Industry (HEAI). JV formed by Embraer and AVIC (Aviation Industry Corporation of China) in 2001 and engaged in assembling aircraft ERJ135/140/145. In April 2011, the parties failed to reach agreement on retraining the factory to assemble aircraft Legacy 600/650 while maintaining the entire infrastructure. 

"Now the Chinese business aviation market has the world's largest potential for development, and we are pleased that Embraer has become a partner Minsheng Financial Leasing", - says the president of Embraer Executive Jets Ernest Edwards. He is confident that the company will be able to fully meet the needs of a rapidly developing Chinese business aviation market. 

"This memorandum laid a solid foundation for the company Minsheng Financial Leasing has become a leading lessor in China", - says the head of Kuhn Linshan. He notes that he hopes to expand the fleet in partnership with Embraer, which plans on mutual sides will be long term. 

Embraer today - the only company that offers a full range business aircraft - from light to an ultra. In 2010, aircraft manufacturers occupies 19% of the world market. This means that every fifth plane, delivered to the customer, was built Embraer. The memorandum will enable Embraer to further strengthen its position in China. This is the fifth agreement with Chinese companies, concluded Aviastroitel YTD, and the second with the company Minsheng Financial Leasing. In April 2011, the parties signed a strategic cooperation agreement providing for the creation of infrastructure for the sale of the Embraer executive class in China.