Identified As Previously Undisclosed Customer For 15 CSeries Aircraft; Agreement Also Includes Options On An Additional 15 Airplanes

Bombardier Aerospace says that Chinese leasing company CDB Leasing Co., Ltd. (CLC) is the previously announced undisclosed customer that signed a conditional purchase agreement for five CS100 and 10 CS300 jetliners. The purchase agreement also includes options on an additional five CS100 and 10 CS300 aircraft, for a total of up to 30 CSeries aircraft. This agreement was initially announced as a conditional order from an undisclosed customer for five CS100 and 10 CS300 jetliners on July 8, 2012.

The announcement was made Friday in Beijing, in the presence of His Excellency Xi Jinping, President, People's Republic of China; His Excellency the Right Honorable David Johnston, Governor General of Canada; the Honorable John Baird, Canada's Minister of Foreign Affairs; the Honorable Joe Oliver, Canada's Minister of Natural Resources; Wang Chong, Chairman, CLC; Mike Arcamone, President, Bombardier Commercial Aircraft; and Andy Solem, Vice President, Sales, China and North Asia, Bombardier Commercial Aircraft. "This announcement, witnessed at the highest levels by both governments, reflects extremely well on the cooperation between Bombardier and China in the aviation sector, as well as on the overall economic relations between Canada and China," said Minister Baird.

As previously announced by Bombardier, based on list prices of CS100 and CS300 aircraft, the contract is valued at approximately $1.02 billion US. Should all 15 options be exercised, the value of the contract would increase to $2.07 billion US.

"Given ongoing high fuel prices and increased environmental concerns, older and less efficient aircraft represent one of the greatest challenges to airlines," said Mr. Wang. "Following an in-depth analysis of existing and re-engined aircraft, the CSeries family of airliners, with its unmatched economics, advanced technology, excellent operational flexibility, as well as its outstanding performance seemed like the obvious choice and shows great potential for operators in China and abroad."

"With the aircraft having recently completed its historic maiden flight, the worldwide momentum of interest for the CSeries aircraft program continues to grow and we are pleased that yet another leading lessor has placed its trust in the CSeries airliner," said Arcamone.

"With its superb performance and cabin flexibility, as well as its transcontinental range and superior field performance, the CSeries aircraft is tailor-made to meet the fleet expansion needs of Chinese operators, and is an ideal complement to China's domestic products," said Solem.

(CS100 [top], CS300 [bottom] images from file)

FMI: www.cseries.com