MINSHENG FINANCIAL LEASING CELEBRATES 60-AIRCRAFT ORDER WITH GULFSTREAM AT SIGNING CEREMONYSale Is One Of The Largest In Gulfstream History
SAVANNAH, Ga., April 15, 2014 — Gulfstream Aerospace Corp. today held a signing ceremony with Minsheng Financial Leasing Co. Ltd. at the Asian Business Aviation Conference & Exhibition. The ceremony recognized Minsheng’s order for 60 Gulfstream aircraft, which was signed in the fourth quarter of 2013.
The 60-aircraft order, a combination of firm orders and options, is one of the largest in Gulfstream’s history.
The sale spans the Gulfstream product line, including the super mid-size Gulfstream G280; the large-cabin, long-range G450; the large-cabin, ultra-long-range G550; and the ultra-large-cabin, ultra-long-range G650.
“This agreement speaks to the industry-leading performance, comfort, safety and reliability of Gulfstream aircraft,” said Larry Flynn, president, Gulfstream. “Thanks to the breadth of the Gulfstream aircraft family, we have the products that match the needs of Minsheng’s customers. Minsheng has quickly become the largest fleet owner in China and has been a leading visionary in the business aviation market. We are thrilled with Minsheng’s confidence in Gulfstream and look forward to working with the company throughout the delivery process and beyond.”
Minsheng Financial Leasing was formed in April 2008 by China Minsheng Banking Corp. and Tianjin Port Free Trade Zone Investment. It was one of the first leasing companies to receive approval to operate from the China Banking Regulatory Commission.
“Minsheng has enjoyed a long and successful relationship with Gulfstream,” said Johnny Lau, vice president, Aviation Leasing Division, Minsheng Financial Leasing. “The Gulfstream products combine reliability, performance, comfort and efficiency to provide a world-class flying experience for our customers. In addition, Gulfstream’s high-standard product support was a major contributor to our decision to move forward with this agreement.”
The G650 can travel farther faster than any other business jet and is capable of traveling 7,000 nautical miles/12,964 kilometers at Mach 0.85 or 6,000 nautical miles/11,112 kilometers at Mach 0.90. The G650 features the most technologically advanced PlaneViewTM II cockpit with a number of standard safety enhancements, including the Gulfstream Enhanced Vision System II (EVS II), Synthetic Vision-Primary Flight Display (SV-PFD) system and Head-Up Display. Depending on interior configuration, the aircraft can seat up to 18 passengers.
The G550 can fly eight passengers and four crew 6,750 nm/12,501 km at Mach 0.80. It features the PlaneView cockpit with Gulfstream’s signature Cursor Control Devices. The G550’s advanced vision equipment includes EVS II and optional SV-PFD. Depending on the configuration, the G550 can accommodate 14 to 18 passengers.
The G450 can accommodate 12 to 16 passengers and travel 4,350 nm/8,056 km with eight passengers at Mach 0.80. It, too, features the PlaneView cockpit and EVS II with optional SV-PFD.
The G280 offers the longest range and the best fuel efficiency in its class. It can accommodate up to 10 passengers and travel 3,600 nm/6,667 km at Mach 0.80 with four passengers. The aircraft offers excellent takeoff performance, requiring just 4,750 feet/1,448 meters balanced field length at maximum takeoff weight.
NOTE TO EDITORS
Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), designs, develops, manufactures, markets, services and supports the world’s most technologically advanced business-jet aircraft. Gulfstream has produced more than 2,200 aircraft for customers around the world since 1958. To meet the diverse transportation needs of the future, Gulfstream offers a comprehensive fleet of aircraft, comprising the Gulfstream G150®; the Gulfstream G280®; the Gulfstream G450®; the Gulfstream G550® and the Gulfstream G650®. Gulfstream also offers aircraft ownership services via Gulfstream Pre-Owned Aircraft Sales®. The company employs more than 14,000 people at 12 major locations. We invite you to visit our website for more information and photos of Gulfstream aircraft at www.gulfstream.com.
General Dynamics, headquartered in Falls Church, Virginia, is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.
Minsheng Financial Leasing
Founded in April of 2008, Minsheng Financial Leasing Co., Ltd. (MSFL) was one of the first five Chinese financial leasing companies with a banking background to be approved by the China Banking Regulatory Commission (CBRC). MSFL was co-founded by China Minsheng Banking Corporation Ltd. (CMBC) and Tianjin Port Free Trade Zone Investment Co, Ltd. Following a successful increase in capital and stocks on December 14, 2011, MSFL’s capital was increased from 3.2 billion yuan to 5.095 billion. In the period leading up to September 2013, the total assets of the company exceeded 105 billion yuan, and the total fund used in business exceeded 190 billion yuan. Its profit-making ability, size of assets, and level of profit have made the company the top performer in the industry.
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