Minsheng Affirms $3B Blockbuster Bizjet Order

 - April 15, 2014, 10:32 AM
Scott Neal, Gulfstream’s senior vice president for sales and marketing, presents Johnny Lau, head of Minsheng’s aircraft leasing division, celebrate a blockbuster order signed today at ABACE for 40 business jets with options for 20 more. The deal is believed to be confirmation of an estimated more than $2.6 billion MoU signed in 2011. (Photo: David McIntosh/AIN)

Minsheng Financial Leasing (MSFL), Asia’s largest business jet leasing firm, announced nearly $3 billion in orders with Gulfstream and Bombardier today at ABACE 2014 in Shanghai. It placed the orders from both OEMs in the fourth quarter.

The order for 60 Gulfstream business jets–40 firm and options for 20 more–spans from the super-midsize G280 to the ultra-long-range G550 and G650. It is believed to firm up an MoU for 50 aircraft worth an estimated $2.6 billion signed between the two companies in July 2011.

Deliveries are expected to begin next year, and the order is “one of the largest in our history, affirms the valued partnership between our two companies,” said Scott Neal, Gulfstream’s senior vice president of sales and marketing. “Together we are committed to seeing business aviation grow throughout China.”

Minsheng’s order with Bombardier is for 10 super-midsize Challenger 350s worth approximately $259 million. The first aircraft, an upgrade of the Challenger 300 with a greater wingspan and more range, is expected to enter service in the second half of this year.

MSFL was founded in 2008 by China Minsheng Banking and Tianjin Port Free Trade Zone Investment.