Embraer signs financing agreement with AVIC Leasing
The agreement could come to as much as US$ 1.5 billion over the next five years
São José dos Campos, November 17, 2010 – Embraer and China’s AVIC International Leasing Co., Ltd. (AVIC Leasing), jointly announced the signing of a Memorandum of Understanding on aircraft financing and leasing during the press conference held today at the eighth China International Aviation & Aerospace Exhibition (www.airshow.com.cn/en), in the city of Zhuhai, Guangdong Province, China. The agreement could come to as much as US$ 1.5 billion over the next five years.
AVIC Leasing is a professional lease financing company owned by Aviation Industry Corporation of China (AVIC). It is one of the first domestic leasing companies approved by the Ministry of Commerce, People’s Republic of China, and the only one with aviation background in the country. Currently, the company owns leasing assets of more than US$ 1.2 billion, with a fleet of 62 aircraft. The agreement is designed to create financing opportunities for selling Embraer aircraft to the Chinese and international markets, focusing on the development of regional and executive aviation in China.
About AVIC Leasing
AVIC International Leasing Co., Ltd., is a wholly owned subsidiary of AVIC and has a registered capital of US$ 127 million. It is an integral part of AVIC’s financial business sector. As the leading player in the domestic financing market, AVIC Leasing has been devoted to supporting and promoting the sound development of the aircraft manufacturing and air transportation industries by providing top-quality financing services.
AVIC Leasing’s fleet consists of aircraft produced by overseas manufacturers, including the E-Jets from Embraer, as well as executive jets and helicopters. Currently, the company owns leasing assets of more than US$ 1.2 billion, with a fleet of 62 aircraft.
AVIC Leasing is a professional lease financing company owned by Aviation Industry Corporation of China (AVIC). It is one of the first domestic leasing companies approved by the Ministry of Commerce, People’s Republic of China, and the only one with aviation background in the country. Currently, the company owns leasing assets of more than US$ 1.2 billion, with a fleet of 62 aircraft. The agreement is designed to create financing opportunities for selling Embraer aircraft to the Chinese and international markets, focusing on the development of regional and executive aviation in China.
About AVIC Leasing
AVIC International Leasing Co., Ltd., is a wholly owned subsidiary of AVIC and has a registered capital of US$ 127 million. It is an integral part of AVIC’s financial business sector. As the leading player in the domestic financing market, AVIC Leasing has been devoted to supporting and promoting the sound development of the aircraft manufacturing and air transportation industries by providing top-quality financing services.
AVIC Leasing’s fleet consists of aircraft produced by overseas manufacturers, including the E-Jets from Embraer, as well as executive jets and helicopters. Currently, the company owns leasing assets of more than US$ 1.2 billion, with a fleet of 62 aircraft.
Source: EMBRAER
