Order Follows Previously Announced MoU With Bombardier

Abu Dhabi-based Falcon Aviation Services LLC ("Falcon") has placed a firm order for three additional Q400 NextGen airliners. The transaction represents the conversion to firm orders of three of the five Q400 NextGen aircraft included in a Letter of Intent (LOI) announced at the Farnborough Airshow on July 15, 2014. During that Airshow, Bombardier and Falcon also announced a Memorandum of Understanding (MOU) whereby they agreed to collaborate in addressing the need in Africa for multiple, high-quality aircraft solutions which meet international standards.

Based on list price, Falcon's firm order for three Q400 NextGen aircraft is valued at approximately $90.3 million.

During a signing ceremony held at Bombardier's Mirabel, Quebec facility to commemorate the order, Falcon was represented by Captain Mahmoud Ismael, Chief Operating Officer, while Bombardier Commercial Aircraft's team included Mike Arcamone, President and John Kassis, Regional Vice President, Sales, the Middle East and Africa.

"Our fleet of Q400 NextGen aircraft will allow us to present operators with a host of aviation solutions from leasing to turn-key operations that will offer avenues for increased profitability," said Captain Ismael. "The African market is expanding at a faster pace than the global economy and the need for optimized and safe air transport solutions is instrumental in the development of the continent. Our cooperation with Bombardier is growing and -- following the recent lease of our first Q400 NextGen aircraft to Senegal Airlines -- we look forward to announcing additional successful placements of Q400 NextGen aircraft into Africa in the near future."

"The Q400 aircraft is very well suited to the Africa market. It offers jet-like speed and excellent range to cover the large distances; competitive operational costs; and additional seating capacity. Combined, these features are ideal for the development of air transport hubs," said Mr. Kassis. "We are delighted to expand in the African market with Falcon, and we look forward to a successful cooperation."

"Bombardier continues to forge ahead with its growth strategy in strategic markets like Africa which will require aircraft with different seat capacities and operating economics to meet passenger demand," said Ryan Debrusk, Vice President, Sales - Europe, the Middle East and Africa. "Over the next 20 years, Africa is expected to take delivery of 700 new aircraft in the 20- to 149- seat market segment; receiving 5.3 per cent of forecasted world demand in these segments."

Including the transaction announced today, Falcon has booked firm orders for six Q400 NextGen aircraft this year. Based at Al Bateen Executive Airport, Falcon operates a fleet of corporate jets conducting VIP charter flights, as well as a fleet of helicopters serving the offshore oil and gas industry. The company also conducts search and rescue, aircraft management, maintenance, repair and overhaul, as well as consulting operations.

(Image from file)

FMI: www.bombardier.com