Danish Leasing Company Nordic Aviation Capital Orders Four Bombardier Q400 NextGen Airliners

30 Mar 2013

Bombardier Aerospace announced today that Nordic Aviation Capital A/S (NAC) of Billund, Denmark has signed a firm purchase agreement to acquire four Q400 NextGen airliners.

Based on the list price of the Q400 NextGen airliner, the contract is valued at approximately $134.77 million US.

The four aircraft will be operated by airBaltic of Riga, Latvia and will join eight Q400 NextGen airliners ordered directly from Bombardier as the airline transitions to an all-Bombardier fleet.

Other recent transactions undertaken by NAC and involving Bombardier's commercial aircraft include: the sale and leaseback of 10 Q400 aircraft to Marfin Investment Group for operation by Olympic Air; the sale and leaseback of eight Q400 NextGen airliners delivered to Eurolot of Poland; and the purchase of 12 CRJ1000 NextGen regional jets to be operated by Garuda Indonesia.

"We are delighted to be expanding our portfolio with additional high-quality, Bombardier-manufactured Q400 NextGen aircraft," said Kim Graven-Nielsen, Chief Executive Officer, Nordic Aviation Capital. "For over 20 years, we have been successfully partnering with our clients to place assets such as these into their networks. Our knowledge and experience continue to position us exceedingly well to offer a diverse range of aircraft leasing solutions, including sale and leaseback, operating leases and finance leases."

"The continued industry support from NAC is further evidence that leasing companies recognize the superb in-flight performance and reliability of the Q400 NextGen turboprop and CRJ1000 NextGen regional jetliner," said Mike Arcamone, President, Bombardier Commercial Aircraft. "We look forward to increased activity involving the aircraft leasing community as we strive to help our customers meet their business goals in a challenging economic environment."

In December 2012, airBaltic announced it was in the process of transitioning to an all-Bombardier fleet of CSeries and Q400 NextGen aircraft. The airline has placed a firm order for 10 CS300 aircraft and holds purchase rights on a further 10 CS300 airliners. These aircraft will replace older-generation 50-, 120- and 144-seat jet and turboprop aircraft.

"The Q400 NextGen turboprop is an excellent aircraft, and we are delighted to continue our transition to an all-Bombardier fleet," said Martin Gauss, Chief Executive Officer, airBaltic.

Including the transaction announced today, Bombardier has recorded firm orders for 467 Q400 and Q400 NextGen aircraft. Delivered aircraft are in service with more than 40 operators in over 30 countries, on five continents. These aircraft have transported more than 243 million passengers and have logged more than 3.8 million flight hours and over 4.1 million take-offs and landings.

Source: http://www.indiaprwire.com/pressrelease/aviation/20130329170710.htm