Bombardier and China's SPDB Financial Leasing Sign MOU on Financing Cooperation
Airshow China - Bombardier Inc. announced today that it has signed a memorandum of understanding (MOU) with China's SPDB Financial Leasing Co., Ltd. ("SPDBFL") which clears the way for SPDBFL to provide advance payment financing, delivery financing and leasing solutions to Bombardier customers acquiring Q-Series , CRJ Series and CSeries commercial aircraft, as well as Learjet , Challenger and Global business aircraft.
The breadth of capital available from SPDBFL for Bombardier customers is up to $500 million US.
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"SPDBFL and Bombardier are equally focused on offering tailored aircraft solutions to meet the needs of airlines and other customers," said Xiang Yu, Chief Executive Officer, SPDBFL. "While this memorandum will be beneficial to both parties, it also provides a framework to advance China's finance and legal infrastructure to further improve aviation financing in the country."
"With China being one of Bombardier's key growth markets, this MOU places us in a stronger competitive position to recommend financing and leasing solutions for potential customers in the country, and is another positive step in reinforcing our domestic presence," said Marc Meloche, Head of Structured Finance, Bombardier Commercial Aircraft. "We are very pleased with the sales momentum we have been gaining in China recently."
"Dating back to the 1970s, Bombardier's involvement with China's aerospace industry has grown to include a significant fleet of business aircraft," added David Vandenberg, Head of Structured Finance, Bombardier Business Aircraft. "Agreements such as this memorandum are instrumental in supporting our long-term objective to grow our business further in the region."
Source : Bombardier Aerospace - view original press release