FTS and Minsheng Financial Leasing sign Cooperation Agreement to Provide Inflight Highspeed Connectivity solution for Asia’s Largest Corporate Jet Fleet
Beijing, China – 26 Jan 2021 – FTS, a provider of wireless Inflight Entertainment and Connectivity solutions announced that it has signed a cooperation agreement with Minsheng Financial Leasing (“MSFL”) to provide Inflight Highspeed Connectivity solution for MSFL’s fleet of more than 300 aircraft. The agreement was sealed in a signing ceremony held on 11 Dec 2020 at FTS headquarter in Beijing.
By the end of 2019, China had a total fleet of 464 operational business jets, making the country the largest operator of business jets in Asia-Pacific. While the pandemic was wreaking havoc to the commercial aviation industry, the business jet charter market was thriving and carried on key functions such as medical, logistics and appeal especially to the VIP and corporate travel market.
Minsheng Financial Leasing (MSFL) is the largest overall financial service provider of corporate jets in Asia, with more than 90% of China’s cooperate aircraft market share. It has partnerships with all major aircraft manufacturers like Gulfstream, Dassault, Bombardier, Embraer, Airbus, Boeing and its fleet of around 300 aircraft are serving in China, Asia Pacific region and other European countries. FTS is the leading Inflight Entertainment and Connectivity provider in China. Its XStreamSAT Ka-band satellite connectivity system has received CAAC, EASA and FAA STC certification and was successfully launched on Qingdao Airlines A320 aircraft.
Under this cooperation agreement, FTS and MSFL will collaborate to develop full-scale Connected Aircraft and Digitalization solutions for MSFL’s current and future corporate jet fleet. This groundbreaking project shall include (but not limited to): aircraft satellite broadband connectivity systems, inflight entertainment systems, Smart Cabin Management, Inflight IOT and Ground Operations Platform. Both parties aspire to leverage on its own area of competence to innovate and disrupt the corporate jet leasing and operation market, propelling the industry to greater heights.
About Minsheng Financial Leasing
Minsheng Financial Leasing Co., Ltd. provides financial leasing services. The Company offers aircraft leasing, energy equipment leasing, medical equipment leasing, electronic equipment leasing, environmental equipment leasing, and other services. Minsheng Financial Leasing also operates asset management.