Bombardier and GE Capital Aviation Services Sign Firm Purchase Agreement with Options for up to 15 Q400 NextGen Aircraft
Leasing companies continue to recognize the Q400 NextGen turboprop as a high-quality asset
December 31, 2014 Toronto – Bombardier Commercial Aircraft announced today that lessor GE Capital Aviation Services (“GECAS”) has signed a firm purchase agreement for five Q400 NextGen aircraft and has also taken options on an additional 10 Q400 NextGen aircraft.
Based on the list price of the Q400 NextGen aircraft, the firm order is valued at approximately $160 million US. The value could increase to $448 million US should GECAS exercise all its options.
“As we continue to grow our leasing fleet, we are pleased to be adding up to 15 more Q400 NextGen aircraft,” said Norman C.T. Liu, President and CEO, GECAS. “We have seen a growing demand for turboprop aircraft worldwide and the Q400 NextGen aircraft is ideally positioned to meet the needs of regional airlines now and in the future. Our customers value the performance, operating efficiency, and flexibility that this aircraft provides.”
“We are delighted that GECAS has chosen to acquire additional Q400 NextGen aircraft,” said Mike Arcamone, President, Bombardier Commercial Aircraft. “With the world’s largest leased commercial aircraft fleet, GECAS’ continued acquisition of the Q400 NexGen turboprop is a strong endorsement of the value, in-service performance and reliability the aircraft provides.”
About Q400 NextGen Aircraft
Optimized for short-haul operations and capable of seating up to 86 passengers, the Q400 NextGen aircraft is a large, fast, quiet and fuel-efficient turboprop. It provides the perfect balance of passenger comfort and operating economics with a reduced environmental footprint.
The Q400 NextGen aircraft is the fastest new-technology turboprop, providing both jet speed and turboprop fuel efficiency. The aircraft’s economics and operational flexibility allow airlines to profitably deploy it in a variety of ways to serve typical short-haul turboprop routes, as well as medium-haul jet markets.
Q400 NextGen aircraft are available with an optional dual-class interior for enhanced passenger comfort; an optional extra-capacity configuration with up to 86 seats for high-density markets; and a cargo-passenger combi configuration.
Including GECAS’s order, Bombardier has booked firm orders for a total of 519 Q400 and Q400 NextGen aircraft. Worldwide,Q400 and Q400 NextGen aircraft have transported more than 355 million passengers and have logged over 5.7 million flight hours and more than 6.1 million take-offs and landings. The Q400 and Q400 NextGen aircraft program includes some 50 owners and operators in over 40 countries on six continents. Long recognized as a high-value asset by operators, the Q400 aircraft is now also attracting growing interest from the leasing community.
About GE Capital Aviation Services (GECAS)
GECAS, the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of approximately 1,600 owned and serviced aircraft with 230 customers. With 40+ years of industry experience, GECAS is recognized as the pre-eminent airline leasing company in the world, offering a wide range of aircraft types and financing options, including operating leases and secured debt financing. GECAS also provides an ever expanding array of productivity solutions including spare engine leasing, aviation consulting services, and spare parts financing and management. GECAS, a unit of GE Capital, has offices in 23 cities around the world, and services customers in 75+ countries. (www.GECAS.com)
Bombardier is the world’s only manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.
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SOURCE: Bombardier Commercial Aircraft