Embraer and Minsheng Financial Leasing ink MOU for 20 E-Jets

Embraer and Minsheng Financial Leasing Co., a subsidiary of China Minsheng Banking Co. and one of the largest financial institutions providing executive jets leasing services in China, signed a Memorandum of Understanding (MoU) at Embraer’s headquarters in São José dos Campos, São Paulo, Brazil. According to the MoU, Minsheng Financial Leasing intends to purchase up to 20 of Embraer’s full line of executive jets. They are expected to be fully converted into firm orders in the next five years and deliveries may commence in 2011.