Wed, Feb 05, 2014
Deal Includes Four Firm Slots, Four Options For Dual-Class Airplanes
Bombardier Aerospace today announced that lessor Palma Holding Limited (Palma) has signed a firm purchase agreement for four dual-class Q400 NextGen aircraft. The agreement, which also includes options for an additional four Q400 NextGen aircraft, follows a letter of intent to acquire the aircraft that Bombardier announced on November 18, 2013. Under a joint venture with Ibdar Bank BSC, Palma intends to lease four of the Q400 NextGen aircraft to Ethiopian Airlines.
As previously announced, based on list price, the contract value for Palma’s transaction covering four Q400 NextGen aircraft and four options is approximately $282 million US.
“The two-class configured Q400 NextGen aircraft provides customers like Ethiopian Airlines with operational flexibility, as well as excellent route and lease structures prospects – we look forward to joining the Bombardier family,” said Moulay Omar Alaoui, President, Palma Holding Ltd. “The addition of the Q400 NextGen airliner to our portfolio will present many exciting business development opportunities for our customers.”
“I am delighted to welcome Palma as the first Middle Eastern lessor for the Q400 NextGen aircraft, and the first lessor worldwide for the aircraft’s dual-class configuration,” said Mike Arcamone, President, Bombardier Commercial Aircraft. “As momentum for the Q400 NextGen aircraft continues to build in the Middle East, Africa and elsewhere, we look forward to adding many more operators to the family of 50 that are presently deriving excellent benefits from the aircraft’s operational flexibility, outstanding performance, passenger amenities and environmental credentials.”
Ethiopian Airlines currently operates a fleet that includes 13 Q400 NextGen airliners. Bombardier’s presence in the Middle East and Africa currently includes more than 200 Dash 8/Q-Series turboprops, CRJ regional jets and CSeries single-aisle, mainline aircraft in service or on firm order.
(Image provided by Bombardier)
More News
A Puff Of Smoke Came Out From The Top Of The Engine Cowling Followed By A Total Loss Of Engine Power On May 9, 2025, about 1020 mountain daylight time, an experimental amateur-buil>[...]
From 2022 (YouTube Edition): Jenny, I’ve Got Your Number... Among the magnificent antique aircraft on display at EAA’s AirVenture 2022 was a 1918 Curtiss Jenny painstak>[...]
Very High Frequency (VHF) The frequency band between 30 and 300 MHz. Portions of this band, 108 to 118 MHz, are used for certain NAVAIDs; 118 to 136 MHz are used for civil air/grou>[...]
“From approximately November 2021 through January 2022, Britton-Harr, acting on behalf of AeroVanti, entered into lease-purchase agreements for five Piaggio-manufactured airc>[...]
From 2008 (YouTube Edition): US Fish and Wildlife Service Chooses The Kodiak To Monitor Waterfowl Populations Waterfowl all over North America may soon have to get used to a new ab>[...]
NTSB Prelim: Lee Aviation LLC JA30 SuperStol
See All