Gulfstream Sells 50 Bizjets To China

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A Chinese leasing company has confirmed it intends to order 50 high-end Gulfstream business jets in a deal worth more than $2 billion. The deal with the China Minsheng Banking Corp.'s leasing arm involves an unspecified number of G650, G550 and G450 jets, the most modern in Gulfstream's line. Order confirmations and deliveries will take three to five years, according to the San Francisco Chronicle. The leasing company expects to have more than 100 business aircraft under its control by the end of the year, making it the biggest player in Chinese business aviation. Gulfstream was an early participant in the Chinese bizjet market and another of its big customers there, Deer Jet, is advancing its business plan.

Deer Jet recently opened China's largest business jet hangar at Beijing Airport. The 61,000-square-foot facility will hold up to six aircraft and will provide FBO services. "It will be China's biggest and best-equipped hangar for business jets," said Mou Jian, manager of the Deer Jet Beijing Corporate Aircraft Hangar. Although it just opened last week, Deer Jet has already outgrown the hangar and will build another one in 2012.