Gulfstream Inks 60-Plane China Deal
Gulfstream set the tone for the Asian Business Aviation Convention and Exhibition Tuesday with the formal announcement of a $3 billion, 60-plane deal to supply G280, G450, G550 and G650 aircraft to Minsheng Financial Leasing. The deal was actually cut in late 2013 but a signing ceremony was held as ABACE got underway in Shanghai. The deal is for a mix of firm orders and options but the breakdown wasn't released. Gulfstream says it's one of the biggest deals it has ever done and will enhance the company's position as one of the bizjet leaders in the emerging Asian market. "Minsheng has quickly become the largest fleet owner in China and has been a leading visionary in the business aviation market," said Gulfstream President Larry Flynn.
There were a few other sales-related announcements on opening day, including Textron's announcement that it sold a King Air C90 GTx to Beidahuang General Aviation Company, of Harbin, China. Textron's Bell Helicopter announced the sale of five of its recently introduced Bell 505 JetRanger X helicopters to Aerochine Aviation, a Bell dealer in eastern and southern China, Hong Kong and Macau. Meanwhile, Nextant Aerospace, which "remanufactures" Beechjets and King Air 90s with modern engines and avionics, has announced Avic International Aero-Development will be its exclusive sales representative in China and Taiwan.