Embraer Signs $1.5 Billion Deal with China's AVIC

Nov. 17, 2010

AVIC has a fleet of 62 aircraft and a leasing book worth $1.2 billion.

Brazilian aircraft manufacturer Embraer said on Nov. 17 that it had signed a deal with China's AVIC International Leasing to finance the purchase and leasing of up to $1.5 billion worth of planes over five years.

The agreement is to facilitate the sale of Embraer aircraft in China and other markets with a focus on regional routes and business travel, the company said.

AVIC has a fleet of 62 aircraft and a leasing book worth $1.2 billion.

Embraer is the third biggest commercial aircraft maker in the world, behind Airbus and Boeing. It has a factory in China.

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