Minsheng Launches Own Charter Firm

 - April 17, 2013, 5:26 AM

While already known as Asia’s biggest business jet leasing firm, Minsheng Financial Leasing (MSFL) quietly launched its own aircraft-operating unit here at ABACE 2013. The company recently purchased Beijing-based charter provider Citic General Aviation, which operated a small fleet consisting of a Dassault Falcon 900DX, a Falcon 2000 and a Falcon 7X, and is in the process of rebranding it into a new subsidiary known as Minsheng International Jet.

At a press conference yesterday Zhang Bo, vice president of the company’s aircraft leasing division, said that over the next five years, Minsheng is committed to increasing its fleet size to 400 aircraft with an investment of 100 billion RMB, and is committed to establishing the biggest charter fleet in China. Over the past four years the company has placed orders for 130 business jets, and has taken delivery of approximately half of them.

Chris Bucholz, until this week CEO of aviation-services provider Hongkong Jet, was named president-aviation for MSFL. He describes the company as a catalyst for the growth of business aviation in China.

With its expanding inventory of business jets, the company is positioning itself to provide “instant gratification” aircraft leasing for customers in the region who may not want to wait for an ordered aircraft to be delivered. Bucholz also noted that Minsheng’s pool of leased aircraft could also provide reserve capacity for its new charter operation.o