Minsheng Financial Leasing’s (MSFL) order for 60 Gulfstream jets (40 firm, 20 options) announced last week at ABACE in Shanghai is in addition to, not further confirmation of, a $2.6 billion order for 50 Gulfstreams under an MoU signed between the two companies in July 2011. Thus, Minsheng now has up to 110 Gulfstreams on order–a mix of G280s, G450s, G550s and G650s–that AIN estimates are worth approximately $5.6 billion, including options.
News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine powered airplanes and helicopters. Subjects include aircraft, engines, personnel, acquisitions, accidents, safety, security and training.
Aviation services company Argus formed a partnership with Hong Kong-based business aviation consultancy T3 Private Jets Asia last week at ABACE 2014. According to the companies, this relationship will increase the efficiency and timeliness of providing Argus’s aircraft operator audits and aviation services in Asia. It also “underscores Argus’s commitment to mutual Asian clients and T3’s ability to deliver these services and products to Asia, at significantly reduced costs by using resources already in the region.”
Used business jet prices saw their strongest month-over-month gain in more than a year last month, according to J.P. Morgan’s North America Equity Research. Statistics released yesterday in the company’s April Business Jet Monthly report show the used business jet market showed a 1.9-percent rise, only the second sequential increase since the start of last year and a trend the company views as an indicator that stronger new jet demand is approaching.
India’s Invision Air has abandoned plans to build a wholly owned fleet of Embraer Phenom light jets, switching its business model to one based largely on aircraft management and a scheme to provide flights connecting smaller cities within the state of Maharashta. The Mumbai-based group originally intended to buy six Phenom 300s and six Phenom 100s.
Embraer delivered 20 business jets during the first quarter of this year, compared with just 12 during the same period a year earlier. The 66-percent increase in deliveries in the company’s executive jet business accompanied an increase in its overall, firm-order backlog to $19.2 billion from $18.2 billion during the quarter, driven mainly by a firm order for 50 E2 E-Jets to India’s Air Costa during the Singapore Airshow in February.
Dubai-based UAS International Trip Support said this week at ABACE 2014 that it is enhancing its aircraft handling services to bridge a trip-support gap between China and Africa. UAS already has a strong presence in China, handling 25 to 50 operations per day into and out of the country. It plans to open a regional office in China next year in response to the strengthening economic ties between what are said to be the two fastest growing business jet markets, China and Africa, the latter linked primarily to the growth of business aviation activity in Nigeria.
On the heels of their agreement signed at the Dubai Air Show in November, Dubai-based trip support company Skyplan Services (Booth H327) and China-based Oriental Sky Aviation (OSA) are exhibiting together for the first time here at ABACE 2014.
Miami, Florida-based online flight operations system provider SchedAero (Avinode, Booth H430) announced here at ABACE 2014 it has received recognition from the Indian Directorate General of Civil Aviation (DGCA) as an electronic record keeping system for Flight and Duty Times.
DGCA requirements mandate that operators have a secure and transparent computerized system with an online portal that the agency can use to monitor their operations. SchedAero is a subsidiary of aviation data and charter marketplace portal provider Avinode.
“There has been an enormous amount of energy and enthusiasm here in Shanghai at ABACE, despite the change in weather from sunny skies on the opening day [yesterday] to rain today,” NBAA president and CEO Ed Bolen told AIN as he summed up the show so far. According to NBAA and show co-organizer Asian Business Aviation Association (AsBAA), ABACE 2014 has already attracted a record-breaking 187 exhibitors and 38 static-display aircraft. And Bolen expects the number of attendees this year to top the 7,714 people who came through the doors during ABACE 2013.