BUSINESS

Bombardier Deal For Q400 NextGen Aircraft Worth $160M

12/31/2014 09:41 EST | Updated 03/02/2015 05:59 EST
MONTREAL - Bombardier Inc. (TSX:BBD.B) says it has inked a deal to sell five Q400 NextGen aircraft for US$160 million.

The buyer, airline leasing company GE Capital Aviation Services, will also have the option to purchase an additional 10 aircraft. If that option is exercised, the value of the deal will be worth a total of US$448 million.

Bombardier says the Q400 NextGen turboprop planes are ideal for short-haul flights, and can seat up to 86 passengers.

Including this latest deal, the Montreal-based company has signed firm contracts to sell a total of 519 Q400 and Q400 NextGen aircraft.

On Tuesday, it announced that it had entered into a contract to sell 24 CRJ900 NextGen regional jets to an unidentified buyer. Based on the list price, that firm order is worth about US$1.14 billion.

Bombardier said the purchase brings the total number of CRJ series aircraft ordered to 1,858, including 384 CRJ900 and CRJ900 NextGen aircraft.

It also announced it had received a firm order for six Learjet 75 business jets with options on an additional three, also from a customer that did not want to be identified at present.

Bombardier said the six Learjet 75 aircraft are valued at about US$83 million based on the 2014 list price. If all the options are exercised, the total value of the order would be US$124 million at list price.

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