China’s Minsheng Financial Leasing has entered a strategic agreement to lease four Bombardier Challenger 650 business planes to Singapore-based charter operator Zetta Jet.

The order is valued at approximately $129.4m at current list prices.

Minsheng Financial Leasing has also signed a purchase agreement with Bombardier Business Aircraft to buy the aircraft, which will be leased to Zetta Jet.

Once delivered, the aircraft will join Zetta Jet’s fleet of Global business aircraft, and serve North America and South East Asia (SEA).

Zetta Jet managing director Geoffery Cassidy said: “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.

“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.

"The Challenger 650 aircraft and its widest-in-class cabin create the ultimate in-flight experience for Zetta Jet’s ultra-VIP travellers.”

“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 in-flight experience for Zetta Jet’s ultra-VIP travellers.”

The company plans to operate the four new Challenger 650 business jets from its North American hub in Los Angeles, US.

Bombardier said that its Challenger aircraft are designed to make room for in-flight meetings, and equipped with its Vision flight deck, Synthetic Vision System, MultiScan weather radar and other systems.

The company has so far delivered more than 1,600 Challenger 650 aircraft worldwide.

Last month, Zetta Jet took delivery of a Global 6000 jet from Bombardier.

Image: Minsheng Financial Leasing, Bombardier Business Aircraft and Zetta Jet officials. Photo: courtesy of Bombardier.