Minsheng Financial Leasing Takes Delivery of First Gulfstream G450 Business Jet

Released on Thursday, June 10, 2010
Gulfstream G450
CAAC - General Administration of Civil Aviation of China
CMBC - China Minsheng Banking Corporation
FSR - Field Service Representatives
SAVANNAH, Ga., June 10, 2010 - Gulfstream Aerospace Corp. recently delivered the first of several aircraft to Minsheng Financial Leasing Co. Ltd., one of the first leasing companies approved by the China Banking Regulatory Commission.

The large-cabin, long-range Gulfstream G450 will be used for corporate transport. Future Gulfstream aircraft will support the company's aviation-leasing operation.

"We're honored that Minsheng has selected Gulfstream to launch its aircraft leasing service," said Larry Flynn, senior vice president, Marketing and Sales, Gulfstream. "The company is pioneering new territory and bringing a valuable new service to its customers. It's expanding the current market and enhancing the role corporate aircraft play in China's economy. We see Minsheng as an important partner in our effort to expand our presence in Asia."

Gulfstream is aggressively moving product support resources into the region, doubling parts inventories in Hong Kong, Beijing and Singapore, and locating product support management and technicians closer to customers. These include a Product Support regional program director, an international distribution manager for parts and materials and a field service representative (FSR).

Mark Thibault, the former chief operating officer of Metrojet Limited in Hong Kong, is the regional program director, responsible for overseeing all Product Support efforts for Gulfstream aircraft fleet operators in Asia.

James Liang serves as the international distribution manager for parts and materials, overseeing the distribution of more than $34 million in inventory at three strategic locations, Hong Kong, Beijing and Singapore.

Jenson Saw is the region's new FSR. He is based in Beijing but will assist customers throughout the country.

In addition, the company has placed teams of aircraft maintenance technicians and interior maintenance specialists in the region.

Gulfstream sold its first large-cabin aircraft in China in early 2008. Today, the company supports more than 35 aircraft in China, Hong Kong and Macau. Gulfstream has type certificate validation from the General Administration of the Civil Aviation of China (CAAC) for the following models: the G550, G500, G450, G350, GV, GIV-SP and the GIV.

Minsheng Financial Leasing was established in April 2008. It was co-sponsored by China Minsheng Banking Corporation Ltd. (CMBC) and Tianjin Port Free Trade Zone Investment Co., Ltd. In addition to aviation leasing, the company offers shipping, real-estate and financial leasing.


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