Embraer signs financing agreement with AVIC Leasing


Brazilian aircraft manufacturer Embraer signs agreement that migt be worth US$1.5 billion over the next five years.

Embraer and China’s AVIC International Leasing Co (AVIC Leasing) have signed a memorandum of understanding on aircraft financing and leasing at Airshow China 2010.

The agreement could come to as much as US$ 1.5 billion over the next five years.

AVIC Leasing is a 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.

Avic Leasing 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.