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.”
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.”
As the backbone of many corporate fleets, Challenger aircraft are designed to facilitate in-flight 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.