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
 Feb 9 2016 - Asian rebels in Aleppo Western blind spotAsia Times
(MENAFN - Asia Times) Militants of the Uzbek group Katibat al Taqhid wal Jihad fighting at Tal Bajir in southern Aleppo However as German intelligence pointed out over 95% of the fighters in ...

 Feb 9 2016 - Jordan to increase commercial, investment trades with AlgeriaMENAFN
(MENAFN) Jordan and Algeria plan to enhance the joint free trade agreement, increase commercial exchange volume and support establishing investments in both nations.Accordingly, both sides are ...

 Feb 9 2016 - Dubai's Falcon City to invest USD 2bn in new projectsMENAFN
(MENAFN) Dubai's Falcon City proclaimed the long-delayed project will attain new life this current year with almost USD 2bn in new developments.Moreover, the project viewed only almost tenth of the ...

 Feb 9 2016 - Lulu Group expands its hypermarket in OmanMENAFN
(MENAFN) Middle East retail Lulu Group spread its presence in the Sultanate of Oman through opening its newest hypermarket in Suwiaq, a coastal town in north east of the country.Furthermore, the new ...

 Feb 9 2016 - UAE- ENEC and TRANSCO sign deal for Barakah Nuclear Power PlantEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 9th February 2016 (WAM) -- The Emirates Nuclear Energy Corporation ENEC has signed the Connection and Interface Agreement C&IA with the Abu ...

 Feb 9 2016 - UAE- Remarks by World Bank Group President Jim Yong Kim at World Government SummitEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 9th February 2016 (WAM)--World Bank Group President Jim Yong Kim has commended the UAE leaders for good governance that helped built the modern and ...

 Feb 9 2016 - Summit in UAE that will benefit the world: paperEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 9th February 2016 (WAM) -- A UAE newspaper has said that world attention remained focused on the UAE on Monday and for valuable reasons. "The ...

 Feb 9 2016 - UN appoints Special Coordinator on improving the United Nations response to sexual exploitationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) New York 9th February 2016 (WAM) -- UN Secretary-General Ban Ki-moon has appointed Jane Holl Lute as a Special Coordinator on improving the United Nations ...

 Feb 9 2016 - UAE- MD CEO of DEWA highlights private sector's contribution to innovating in clean energyEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 9th February 2016 (WAM) -- Saeed Mohammed Al Tayer MD & CEO of Dubai Electricity and Water Authority DEWA has noted that Dubai provides the ...

 Feb 9 2016 - UAE Ambassador Italian Justice Minister discuss cooperationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ROME 9th February 2016 (WAM) -- Saqr Nasser Al Raisi UAE Ambassador Extraordinary and Plenipotentiary to Italy and Andrea Orlando Italian Minister of ...

more...


 






Google

 
 

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