Bombardier Aerospace
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Bombardier Aerospace

October 30, 2016 15:30 ET

Zetta Jet Diversifies its Fleet with Four Bombardier Challenger 650 Business Jets Through Financing Agreement with Minsheng Financial Leasing

- The first Challenger aircraft to join Zetta Jet's fleet of Global business jets

- Challenger 650 aircraft delivers the widest cabin and only true 12-passenger capability in its class

ORLANDO, FLORIDA--(Marketwired - Oct. 30, 2016) - Bombardier Business Aircraft announced today that four Challenger 650 jets will join the Global fleet of Singapore-based charter operator, Zetta Jet. The announcement follows the signature of a purchase agreement between China's Minsheng Financial Leasing Co., Ltd and Bombardier Business Aircraft, as well as the signature of a strategic agreement on the co-operation in aircraft leasing between Minsheng Financial Leasing and Zetta Jet, at the National Business Aviation Association's (NBAA) 2016 Convention and Exhibition in Orlando, Florida. The aircraft order is valued at approximately $129.4 million US based on 2016 list prices.

"This agreement strengthens our position in the Asian aviation market by diversifying our fleet to include Challenger business jets and enhancing our offering to our elite clientele," said Geoffery Cassidy, Managing Director, Zetta Jet. "Minsheng Financial Leasing is both a key partner of Zetta Jet and a leading player in China's financing market, and this agreement signals the confidence they place in the growth potential of Zetta Jet, its business model and the addition of Challenger 650 aircraft to our fleet. With its breakthrough design attributes and unique expressions of comfort, control and connectivity, the Challenger 650 aircraft and its widest-in-class cabin create the ultimate inflight experience for Zetta Jet's ultra VIP travellers."

Zetta Jet was established in August 2015, and is based in Singapore. The four Challenger 650 business jets will operate out of the company's North American hub in Los Angeles and cater to the increasing demand for its luxury travel services between North America and the South East Asian (SEA) region.

"We are delighted to collaborate with Zetta Jet, the fast-growing, industry-leading private jet operator in Asia, to bring four Challenger 650 aircraft to Zetta Jet's elite clientele," said Zhou Wei, Chairman, Minsheng Financial Leasing Co., Ltd. "Both parties are confident in our partnership and in the Asian business aviation market. We look forward to the success of this agreement."

"We are thrilled that Zetta Jet has chosen to grow its fleet with Bombardier's Challenger 650 aircraft," said Peter Likoray, Senior Vice President, Sales and Marketing, Bombardier Business Aircraft. "With its redefinition of the ultimate inflight experience, proven reliability and efficiency, and the industry's-best overall value, the Challenger 650 aircraft provides Zetta Jet's exclusive customers with everything they need and more."

As the backbone of many corporate fleets, Challenger aircraft are designed to facilitate inflight meetings and have set the business aviation standard for reliability, efficiency and productivity for over 30 years. With over 1,600 aircraft in the installed base, the in-service Challenger fleet has performed more than 3,300,000 landings and logged over 5,700,000 flight hours.

Challenger 650 aircraft: A masterful expression of high-end craftsmanship and functionality, the Challenger 650 aircraft is the most reliable business aircraft by design. The Challenger 650 business jet provides the ultimate in-flight experience with industry-leading connectivity, an immersive sound system, and a cabin management system that effortlessly brings it all together in the widest in-class cabin.

Featuring the Bombardier Vision flight deck and state-of-the-art Synthetic Vision System, MultiScan™ weather radar, and available head-up display with Enhanced Vision System, the aircraft's avionics provides increased situational awareness and reduced pilot workload.

With a true 4,000 NM (7,408 km) range capability, the Challenger 650 business jet connects London to New York, and Sao Paulo to Miami non-stop* while delivering the lowest direct operating costs in its class. Built upon the most successful large business aircraft platform of all time and designed to create an unforgettable experience, the Challenger 650 aircraft is the first choice among experienced flight departments.

About Zetta Jet

The world's first truly personalized private airline, Zetta Jet promises to deliver the ultimate in bespoke luxury experiences to a discerning clientele with its unique experience that combines the dedicated Asian service philosophy with the flexibility and 'can-do' spirit of the U.S., adorned with the glamour of Europe's enduring chic on its Bombardier fleet with ultra-long range intercontinental capabilities across the Pacific Rim.

Headquartered in Singapore, Zetta Jet is a FAA certificated air carrier and the first only part 135 operator authorized to conduct Polar flights, enabling Zetta Jet to optimize routes without limitation. With strong operational capabilities and established offices both in Los Angeles and Singapore, Zetta Jet also leverages an established network of sales and support offices in New York, London, San José, Harbin and Singapore. www.zettajet.com

About Minsheng Financial Leasing Co., Ltd

With strong support from the major shareholder China Minsheng Bank, Minsheng Financial Leasing Co., Ltd, established in 2008 with registered capital of 5.095 billion Yuan at present, is one of the first five banking financial leasing companies upon the approval of China Banking Regulatory Commission. Currently, Minsheng Financial Leasing is the largest business aircraft leasing company in Asia and a leading ship leasing company in China. Its business covers fields such as business aircraft, commercial aircraft, commercial vessels, offshore facilities, cold chain logistics, vehicles, engineering, energy, medical, electronic as well as environment protection equipment.

As the largest financial service provider for business aircraft in Asia, Minsheng Financial Leasing operates a fleet of some 300 aircraft, including over 150 business jets, sharing 90% market in China, and over 40 commercial aircraft. Minsheng Financial Leasing, with the highest-level industry expertise and experience, provides clients superior, comprehensive and unparalleled financing solutions.

About Bombardier

Bombardier is the world's leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.

Bombardier is headquartered in Montréal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability North America Index. In the fiscal year ended December 31, 2015, we posted revenues of $18.2 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

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