Dassault in MoU with Minsheng Financial for 20 Falcon BJs
12 Oct 2011
Dassault Aviation has signed a memorandum of understanding (MoU) for 10 Falcon 7X and 10 Falcon 2000S business jets with China's Minsheng Financial Leasing. Dassault Falcon officials said they expect the agreement to be finalized in the coming weeks.
The MoU was signed by Charles Edelstenne, chairman and CEO of Dassault Aviation, and Kong Linshan, chairman of the board of Minsheng Financial Leasing in Las Vegas.
The non-deposit MoU follows firm orders for five Falcon 7Xs that Minsheng Financial placed earlier this year and a sixth order for a Falcon 900LX. Some of these five 7Xs have been delivered.
"This simple document means a lot to us," said John Rosanvallon, president and CEO of Dassault Falcon. "It reinforces an already strong relationship that's been established between Falcon and Minsheng. Both companies wish to offer our customers the best possible solutions for business aircraft in China."
Minsheng Financial was established in 2008, with a focus on shipping and large-scale financing. The company stepped into the aviation financial business two years ago and has contracted for 87 business jets (not including the MoU), 30 of which have been delivered.
According to senior Minsheng officials, the company expected to be leasing 100 business jets in five years but that these levels were likely to be reached in just two.
