Embraer and China's ABC Financial Leasing have signed a memorandum of understanding (MoU) on aircraft financing and leasing.
The deal will 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, says the airframer. ABC Leasing is a wholly-owned subsidiary of the Agriculatural Bank of China.
The agreement could be worth as much as $1.5 billion over the next five years, says Embraer.
ABC Leasing chairman Yang Kun says: "This strategic alliance with Embraer will create a new approach for both sides to jointly develop both domestic and overseas markets."
The agreement will further strengthen the airframer's co-operation with financing institutions in China, says Embraer.
Embraer has 115 firm orders from Chinese customers, with more than 80 aircraft already delivered and operating in China.
Source: Air Transport Intelligence news
