Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Gulfstream announces 60-plane deal for China  Join our daily free Newsletter

MENAFN - AFP - 15/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) Business jet maker Gulfstream Aerospace Corp. on Tuesday announced a deal to sell 60 aircraft to a Chinese leasing company, one of the largest orders in the US company's history.

The agreement, signed with Minsheng Financial Leasing Co. in the fourth quarter last year, includes firm orders for 40 Gulfstream aircraft and options for 20 more, the company said in a statement. Financial details were not disclosed.

Private jet use in China is small but rapidly growing, backed by demand from wealthy individuals and Chinese companies operating overseas, industry officials say.

The order includes planes from across Gulfstream's product line, including the G280, G450, G550 and G650. Deliveries to Minsheng will start in 2015, a Gulfstream spokesman said.

"It's a significant order. We think it's a commentary on the China market and on Gulfstream," Scott Neal, Gulfstream's senior vice president for sales and marketing, told AFP on the sidelines of an industry show in Shanghai.

He added the event was "appropriate" to make a public announcement, even though the deal was closed last year.

The Gulfstream fleet in greater China stands at more than 130 aircraft, according to the company. Gulfstream is a subsidiary of aerospace and defence firm General Dynamics.

Minsheng Financial Leasing, owned by China Minsheng Banking Corp., said the Gulfstream order was the largest in the company's history. Founded in 2008, Minsheng has purchased more than 200 aircraft to date, an official said.

The number of business jets in greater China -- which includes Hong Kong, Macau and Taiwan -- rose from 203 in 2011 to 371 at the end of last year, including 248 in mainland China alone, according to Hong Kong-based aviation consultancy Asian Sky Group.


 


AFP




  MENA News Headlines
 Aug 29 2016 - Middle East's Leading Supplier of Aggregates and Asphalt Chooses ORION ERP Suite to Consolidate its Country OperationsMENAFN Press
(MENAFN Press) After the recent acquisition of six companies in the United Arab Emirates, Oman and Qatar, Middle East's leading supplier of aggregates and asphalt has chosen 3i Infotech's flagship ...

 Aug 29 2016 - New report defines world-class apprenticeships as those rooted in sector skills, knowledge and progression to employmentMENAFN Press
(MENAFN Press) A new report has been released in the Middle East from the University of Derby, supported by Pearson, which looks at some of the world's most heralded apprenticeship systems. The ...

 Aug 29 2016 - New report defines world-class apprenticeships as those rooted in sector skills, knowledge and progression to employmentMENAFN Press
(MENAFN Press) A new report has been released in the Middle East from the University of Derby, supported by Pearson, which looks at some of the world's most heralded apprenticeship systems. The ...

 Aug 29 2016 - New report defines world-class apprenticeships as those rooted in sector skills, knowledge and progression to employmentMENAFN Press
(MENAFN Press) A new report has been released in the Middle East from the University of Derby, supported by Pearson, which looks at some of the world's most heralded apprenticeship systems. The ...

 Aug 29 2016 - Trend Micro 1H Security Roundup Report Showcases Evolution of Ransomware and BEC ScamsMENAFN Press
(MENAFN Press) Dubai, United Arab Emirates As Trend Micro predicted, 2016 has proven to be a year of online extortion through various malicious attack methods. Trend Micro Incorporated (TYO: 4704; ...

 Aug 29 2016 - Learningonline.xyz Supports UN Global Goals for Quality Education with its Online TESOL Program for Language TeachersMENAFN Press
(MENAFN Press) Learningonline.xyz Supports UN Global Goals for Quality Education with its Online TESOL Program for Language Teachers The Global Goals for Quality Education are vital for the ...

 Aug 29 2016 - UN's Ban Ki Moon urged to listen to Northern Provincial Council leaders & not to Colombo based MP's: Tamils for ObamaMENAFN Press
(MENAFN Press) UN's Ban Ki Moon urged to listen to Northern Provincial Council leaders & not to Colombo based MP's: Tamils for Obama NEW YORK, USA, August 29, 2016 /EINPresswire.com/ -- Tamils ...

 Aug 29 2016 - Industrial Robotic Software Market - Structure, Size, Trends, Analysis and Outlook 2016-2022MENAFN Press
(MENAFN Press) Industrial Robotic Software Market - Structure, Size, Trends, Analysis and Outlook 2016-2022 Robotic software is an important component of industrial robotic system and plays a core ...

 Aug 29 2016 - Sonbranch Music Releases Restored, Delivering Music of Healing and Comfort to Those Who Are HurtingMENAFN Press
(MENAFN Press) Sonbranch Music Releases Restored, Delivering Music of Healing and Comfort to Those Who Are Hurting ORANGE COUNTY, CA, UNITED STATES, August 28, 2016 /EINPresswire.com/ -- Sonbranch ...

 Aug 29 2016 - Indagem Tech Launches Indiegogo Campaign to Fund Mobile Security Lost-Item Tracker SystemMENAFN Press
(MENAFN Press) Indagem Tech Launches Indiegogo Campaign to Fund Mobile Security Lost-Item Tracker System UMS HomeShield Monitoring anything UMS HomeShield Track anything UMS HomeShield Smart ...

more...


 





Google

Easy Forex
 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help