Embraer Inks Leasing Deals with Chinese Banks
Embraer and Minsheng Financial Leasing, a subsidiary of China Minsheng Banking, signed a “strategic cooperation” agreement. The agreement will create financing opportunities for selling Embraer executive jets to China and the international market, and allow the two firms to promote executive aviation in China. In related news, Embraer and ABC Financial Leasing, a wholly owned subsidiary of Agricultural Bank of China, signed a memorandum of understanding last month for up to $1.5 billion in aircraft financing over the next five years. The agreement covers executive jets, airliners and agplanes sold in China and other markets.