It came as no surprise to industry watchers that Minsheng Financial Leasing Co. Ltd. (MSFL) won the recent Corporate Jet Investor (CJI) award for Asian Business Jet Financier of the Year. MSFL has so far signed agreements for, and placed nonrefundable deposits on, more than 100 private aircraft acquisitions in China. The firm’s total registered capital is RMB five billion ($790 million).
China Minsheng Bank
Gulfstream Aerospace confirmed yesterday that a new memorandum of understanding (MoU) for midsize and large-cabin Gulfstreams was inked late last week with China’s Minsheng Financial Leasing. The Chinese aircraft leasing firm is a venture formed in April 2008 by China Minsheng Banking and Tianjin Port Free Trade Zone Investment.
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.
China’s Minsheng Financial Leasing has confirmed its intention to buy more long- and medium-range business aircraft, according to London-based attorney David Tang, who acts as its aviation consultant. The Beijing-based group had placed orders for 17 business jets as of the end of last year, and has already taken delivery of at least one–a Gulfstream G450–and is due to receive a further unspecified number of aircraft from the manufacturer.