Minsheng Financial Leasing orders 60 Gulfstream jets


Minsheng Financial Leasing has placed an order with Gulfstream that could see the Savannah-based airframer deliver up to 60 aircraft to China.

The order, placed in the fourth quarter of 2013, covers G280s, G450s, G550s and G650s, although the majority of aircraft will be G450s and G550s.

Made up of options and firm orders, Corporate Jet Investor understands that the firm orders placed will cover the delivery of 40 aircraft.

The aircraft order was originally expected to be placed earlier in 2013 and had previously been referred to during General Dynamics investor relations calls by Phebe Novakovic as a pending “large fleet order.”

“Minsheng has quickly become the largest fleet owner in China and has been a leading visionary in the business aviation market,” Larry Flynn, president of  Gulfstream. “We are thrilled with Minsheng’s confidence in Gulfstream and look forward to working with the company throughout the delivery process and beyond.”

The Minsheng order is one of the largest orders Gulfstream has ever received.

“This order is one of the largest in our history and it affirms the valued partnership between our two companies.” says Scott Neal, senior vice president of sales and marketing. “Together we are commited to growing business aviation throughout China”

In 2008, Gulfstream received a $1.9 billion order from NetJets for delivery of up to 40 Gulfstream aircraft, however, not all options were converted to firm orders.