Brazil’s Embraer signs agreement with Chinese company to finance aircraft

18 November 2010

Sao Jose dos Campos, Brazil, 18 Nov – Brazilian aircraft manufacturer Embraer – Empresa Brasileira de Aeronáutica said Wednesday it had signed an agreement with China’s Avic International Leasing to fund new aircraft, which could total up to US$1.5 billion over the next five years.

According to Embraer, the deal aims to creating financing opportunities for the sale of aircraft to companies in China and the international market.

The Brazilian company also said that Avic International Leasing was the Chinese market leader in financing, with leasing assets of over US$1.2 billion and a fleet of 62 aircraft.

Embraer expects Chinese demand for regional jets to total 950 units over the next 20 years, with higher demand for models with capacity for between 91 and 120 passengers.

The Brazilian company has already delivered 77 of a total 105 orders to China, making it one of the biggest suppliers of aircraft with up to 120 seats in the country.

In another statement issued Thursday about the prospects for the Chinese market until 2029, Embraer said that the Chinese economy, “is growing quickly and is feeding the development of the regional aviation market, which leads to great opportunities for the aviation industry.”

The statement was made by the president of Embraer in China, Guan Dongyuan, on the sidelines of the 8th Airshow China 2010, held between 16 and 21 November in the Chinese city of Zhuhai, in Guangdong province.

Based in Sao Jose dos Campos, in the state of Sao Paulo, the company also has offices, industrial units and servicing workshops in Brazil, China, the United States, France, Portugal, and Singapore and is a leading company in the manufacture of commercial jets with up to 120 seats. (macauhub)