China’s Minsheng makes US debut with private jet deal
April 19, 2017
Minsheng Financial Leasing has debuted in the US private jet market with a deal for the lease of three of its business jet aircraft. Minsheng has entered a deal with Jet Edge for the lease of three Embraer Legacy 650 business jets, according to Greg Waldron’s 17 April 2017 news article published at the FlightGlobal website.
Jet Edge has already taken delivery of the three aircraft and is laying the groundwork for their deployment in its fleet. Waldron cites Jet Edge’s CEO, Bill Papariella, as confirming that “three aircraft were delivered at the end of March and are expected to enter service in the coming months.”
This marks a milestone achievement for Minsheng’s forays into the US private aviation market. With Jet Edge as its first US customer, Minsheng has effectively acquired a stepping stone on which it can launch aggressive market penetration campaigns in the country. The progress is in line with Minsheng’s strategy to expedite its growth in the international aviation market. Waldron quotes Minsheng’s President, Wan Xiaofang, as saying that the successful completion of the Jet Edge agreement “continues a strategy to become a dominant global player in the aircraft leasing market.”
Minsheng has established itself as a leading business aviation brand in China. The company lists Nanshan Jet and Deer Jet among its list of Chinese customers, according to Waldron.
Minsheng has been particularly successful in building its fleet to meet the specific needs of jet leasing companies. Waldron cites data from Flight Fleets Analyser indicating that Minsheng “manages 64 in-service business jets, with orders for 17 additional aircraft and one in storage.” Customers seeking Minsheng’s private jet leasing services have a wide variety of aircraft brands and sizes to choose from. They include Gulfstream G550s and G450s as well as Legacy 650s.