Embraer receives firm order for 13 Legacy 650 jets from China’s Minsheng Financial Leasing Co.
Deal demonstrates strong confidence in Legacy 650 by Chinese industrial players .Las Vegas, Nevada, USA, October 2011 – Embraer signed a firm order for 13 Legacy 650 executive jets with China’s Minsheng Financial Leasing Co., Ltd., in a ceremony held, on October 10, at the 64th Annual NBAA Meeting & Convention, in Las Vegas, Nevada, in the United States. The first aircraft is expected to be delivered by the end of this year, with the remainder to be delivered within the next five years.
In July 2011, the two parties signed a Memorandum of Understanding for the purchase of up to 20 aircraft, from entry level to ultra-large executive jets. “It is inspiring and encouraging to have this firm order for 13 Legacy 650s from Minsheng, marking a significant advancement, not only in terms of partnership between the two parties, but also in terms of Embraer’s business development in China. The deal demonstrates strong confidence in our Legacy 650 by Chinese industrial players and reaffirms Embraer’s belief in this strong and promising market,” said Ernest Edwards, President, Embraer Executive Jets.
“The order for 13 Legacy 650s enhances our strategic cooperation with Embraer, as one of the major initiatives for our company: to be the top executive aviation leasing institution in Asia. We hold full confidence in the prospects for Embraer’s Legacy 650 in the Chinese executive aviation market, which will surely attain increasing recognition from our customers here in China,” said Kong Linshan, Chairman of Minsheng Financial Leasing Co., Ltd.
The Legacy 650, which entered service in late 2010, is a new addition to Embraer’s executive jets family. With a range of 3,900 nautical miles (7,223 kilometers), it can fly with four passengers, under NBAA IFR conditions, nonstop from Beijing (China) to Dubai (United Arab Emirates), from Hong Kong (China) to Adelaide (Australia), or from Dubai to London (UK). The aircraft features the highly integrated Honeywell Primus Elite™ avionics suite, which greatly reduces pilot workload and enhances flight safety.
The Legacy 650 offers three comfortable cabin zones that allow up to 14 passengers to work or rest in a spacious area. A fully equipped wet galley and the largest in-flight accessible baggage compartment in its class are other value-added highlights. Cabin noise levels are reduced significantly with a state-of-the-art sound insulation package. The Legacy 650 performs as an ideal business partner with Wi-Fi technology that makes it easier to transfer large files, stream videos, and make and receive calls via VoIP.
About Minsheng Financial Leasing Co., Ltd.
Minsheng Financial Leasing Co., Ltd. (MSFL), was established in April 2008, and is one of the first five financial leasing companies approved by the China Banking Regulatory Commission (CBRC) in China. Sponsored by China Minsheng Banking Corporation Ltd. (CMBC), MSFL total registered capital is USD 501 million (RMB 3.2 billion).
Currently, MSFL assets total USD 8.15 billion (RMB 52 billion), and the company has become the leader in the respective market sectors of China’s leasing industry. As the main non-banking financial institution to engage in financial leasing, MSFL has a staff of experts specializing in shipping, aviation, large equipment manufacturing and other fields to provide professional and quality financial leasing products and services to large and SME domestic and overseas enterprises.
Since its inception, MSFL has adopted the concepts of professionalism and efficient management. According to market demands, the company reacts with innovation, vitality and flexibility to provide quality and complete leasing services to customers. MSFL has established a good brand image in the industry and is widely acclaimed by clients.
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