China's Minsheng Seeks 10+ Business Jets

Sunday, January 9, 2011 - 11:00pm

China's Minsheng Financial Leasing is in talks to acquire 10 to 15 business jets as part of a plan to order 100 by 2014. The company has already ordered 17 aircraft since April 2008, according to the firm's aviation and legal consultant, David Tang.

The lessor is an affiliate of China's Minsheng Bank, which specializes in financial leases for Chinese customers. Thus far Minsheng's customers have been exhibiting a strong preference for large, long-range jets such as the Gulfstream G550. The lessor expects increased interest in Chinese domestic flying to generate a rise in bookings for medium-range aircraft in 2011.

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“Let me be straight with you. What I'd rather have is an airplane. We just had a third kid. I don't like flying commercial. I like to take my family to Hawaii. When I go east, I'd like to have pilots I know. ”