Minsheng Financial Leasing, a Chinese financial leasing company, has completed financing of the first Bombardier Global 5000 due to be delivered to VistaJet’s new US venture, with the aircraft soon to take up a US registration (N number).
This will be the first time VistaJet have registered an aircraft away from Europe.
Founded in 2002 by Swiss born Thomas Flohr, VistaJet announced plans in September 2013 to create a US subsidiary with an initial fleet of 12 Bombardier Global 6000 business jets.
With a target of beginning operations in March 2014, the new venture will see the VistaJet aircraft managed by Jet Aviation, with Wheels Up acting as sales agents.
Although the initial arrangement will see 12 Global 5000 private jets based in the US, VistaJet plans to grow the total number of aircraft in operation in the county to 50 aircraft within a five to 10 year period.
As well as the US VistaJet also have its sights set on entering mainland China.
Tong Xiaotong, Director of Aviation Finance, Minsheng Financial Leasing is speaking at International Corporate Jet & Helicopter Finance 2014 in London on February 4 and 5.