Gulfstream confirms order of 60 aircraft from China's Minsheng Leasing

Gulfstream confirms order of 60 aircraft from China's Minsheng Leasing
A Chinese businessman leaves a Gulfstream G150 luxury business jet during the Asian Business Aviation Conference & Exhibition (ABACE2014) at the Shanghai Hongqiao airport on April 15, 2014.

BEIJING - Gulfstream Aerospace Corp, wholly owned by General Dynamics, said it has sold 60 aircraft to China's Minsheng Financial Leasing Co in what it called one of the biggest single orders for jets in Gulfstream's history.

The aircraft order, signed in the fourth quarter, represents firm sales and an option for additional jets, Gulfstream said in a statement without disclosing financial terms. The sale includes a range of aircraft, from the mid-size G280 jet to the ultra-large cabin G650.

Savannah, Georgia-based Gulfstream is competing against Brazil's Embraer SA, Cessna Aircraft Co, and Bombardier Inc to gain a foothold for business jets in the fast-growing China market, which each company sees as a crucial region for future growth.

Minsheng Financial Leasing was established in 2008 by China Minsheng Banking Corp and Tianjin Free Trade Zone Investment Co. The company reports more than 190 billion yuan ($30.6 billion) in assets.

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