Embraer signs MOU with China’s ABC bank to support aircraft financing

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Published: March 25, 2011

Embraer said it signed an MOU with ABC Financial Leasing Co., a subsidiary of Agricultural Bank of China, covering up to $ 1.5 billion in aircraft financing and leasing support for Embraer aircraft sales in China and other markets.

“We are proud to sign this memorandum with ABC Leasing, one of Embraer’s most important partners in China. The agreement will certainly help provide strong support to our customers in China and around the world,” Embraer Executive VP- Airline Market Paulo Cesar de Souza e Silva said. The company has 115 firm orders from Chinese customers with more than 80 aircraft delivered and operating in that country.

Earlier this month, Bombardier Aerospace signed an MOU with ICBC Financial Leasing Co., a subsidiary of Industrial Commercial Bank of China, covering up to $ 8 billion in capital that ICBC will make available to support Bombardier aircraft sales inside and outside China (ATW Daily News, March 7).

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