Story ID: 403minsheng headache
Minsheng Signings Helping Young Operators Grow
By: Kerry Lynch
Caption: Minsheng held a signing ceremony covering contracts with three operators.
Word Count: 264
Minsheng Financial Leasing (Chalet 8) is expanding its presence in Asia, signing three separate agreements on Tuesday here at ABACE 2016 with emerging operators HK Bellawings, Sino Jet and Sparkle Roll Aviation.

The agreements include the lease of an Embraer Lineage 1000E that HK Bellawings will manage. Zhang Yijia, executive v-p of the Hong Kong-based company, noted that the Lineage is the first such aircraft that Minsheng has leased to them, helping the young company continue its rapid pace of growth. In a short time from its 2014 founding, the company’s fleet and contracts have grown to nine aircraft.

Sino Jet CEO Jenny Lau also was on hand to sign agreements and a letter of intent that include two Embraer Legacy 650s and Dassault Falcon 7X. Another young company that began in 2011, Sino Jet has rocketed to a fleet of 26 aircraft, including some owned by Sino Jet and others managed by the growing company.

Lau said that as the Chinese business aircraft market has struggled over the past year, Minsheng has created a new flexible financing arrangements that is permitting continued expansion. This comes as Sino Jet was acquired by Tsing Hua Capital in late 2014 and earlier this year received yet another investor.

Meanwhile, Sparkle Roll executive vice president Du Peng was also on hand during this week’s Minsheng signing ceremony for the addition of Lineage 1000Es. The company now has a fleet of 20 aircraft, including 15 owned by the company and five managed, he said, noting the company might soon add a third Lineage 1000E.