Posted on: 24 March 2011 by Ross McSweeny
Embraer and ABC Financial Leasing Company, a wholly owned subsidiary of Agricultural Bank of China, have signed a Memorandum of Understanding on aircraft financing and leasing at a ceremony held at Embraer headquarters in São José dos Campos, Brazil.
The agreement is designed to create new financing opportunities for Embraer to sell aircraft in China and other markets, with a focus on the development of China’s regional, executive, and agricultural aviation. The agreement could come to as much as $1.5 billion over the next five years.
Embraer currently has 115 firm orders from Chinese customers, with more than 80 aircraft already delivered and operating in China.