Embraer Inks 13-Jet Deal To China
Embraer announced an order for 13 Dynasty business jets at NBAA 2011 to China's Minsheng Financial Leasing. The company had earlier this year signed a deal for up to 20 Embraer jets and the Legacy 650 order is the first stage of what both companies say will be a lasting relationship. "We hold full confidence in the prospects for Embraer's Legacy 650 in the Chinese executive aviation market, which will surely attain increasing recognition from our customers here in China," said Kong Linshan, Chairman of Minsheng Financial Leasing. The first airplane will be delivered by the end of the year.
Although the announcement was full of cordiality, including a traditional gift exchange, Kong and Embraer's VP for business aircraft Ernie Edwards did have a difference of opinion. Edwards said his company predicts the Chinese market for business jets to be more than 600 aircraft over the next 10 years. Kong said his company is predicting 1,000 deliveries.